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{"ops":[{"insert":"The Harriott manufacturing company uses job order costing system. The company uses machine hours to apply overhead cost to jobs. At the beginning of 2020, the company estimated that 31,400 machine hours would be worked and $5,024,000 overhead cost would be incurred during 2020. The following activities took place in the work in process inventory during February: WIP Inventory A/C November 1 Bal. b/f Direct Materials Used $51,250 256,400 Other transactions incurred: \u25aa Indirect material issued to production was $40,360 \u25aa Total manufacturing labour incurred in November was $368,000, 75% of this amount represented direct labour. \u25aa Other manufacturing overhead costs incurred for November amounted to $340,490. \u25aa Two jobs were completed with total costs of $384,000 & $270,000 respectively. They were sold on account at a margin of 33\u2153% on sales. Required: i) Compute Harriott\u2019s predetermined manufacturing overhead rate for 2020. \n"}]}
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