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Find what is the company predetermined overhead rate

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Reference no: EM132984328

Problem 1: A company estimated its annual overhead costs to be $ 1300000 and its direct labor costs to be $ 500000. Actual overhead was $ 1100000, and actual labor costs totaled $ 550000. What is the company's predetermined overhead rate to the nearest cent?

Option 1: $ 2.00

Option 2: $ 2.36

Option 3: $ 2.60

Option 4: $ 2.20

Reference no: EM132984328

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