Ikerd Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are estimated to total $316,500 for the year, and machine usage is estimated at 126,600 hours. For the year, $341,100 of overhead costs are incurred and 132,000 hours are used. (a) Compute the manufacturing overhead rate for the year. (Round answer to 2 decimal places, e. g. 1.25.) Manufacturing overhead rate $enter a dollar amount rounded to 2 decimal places per machine hour

Doogan corporation makes a product with the following standard costs: standard quantity or hours standard price or rate direct materials 2.0 grams $ 7.00 per gram direct labor 1.6 hours $ 12.00 per hour variable overhead 1.6 hours $ 6.00 per hour the company produced 5,000 units in january using 10,340 grams of direct material and 2,320 direct labor-hours. during the month, the company purchased 10,910 grams of the direct material at $7.30 per gram. the actual direct labor rate was $12.85 per hour and the actual variable overhead rate was $5.80 per hour. the company applies variable overhead on the basis of direct labor-hours. the direct materials purchases variance is computed when the materials are purchased. the materials quantity variance for january is: