Determine the company predetermined overhead rate

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Hemingway, Inc. applies factory overhead based on direct labor costs. The company incurred the following costs during 2011: direct materials costs, $650,000; direct labor costs, $3 million; and factory overhead costs applied, $1,800,000. Assuming that the company's $71,000 ending goods in process inventory account for 2011 had $20,000 of direct labor costs, determine the inventories direct material costs. And determine the company's predetermined overhead rate for 2011.

Reference no: EM13134682

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