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Doric Agricultural Products uses a predetermined overhead allocation rate based on direct labor cost. The predetermined overhead allocated during the year is $270,000.
The details of production and costs incurred during the year are as follows:
Actual direct materials cost = $812,500
Actual direct labor cost = $180,000
Actual overhead costs incurred: = $264,000
Total direct labor hours = 5,520 hours
Problem 1: What is the predetermined overhead allocation rate applied by Doric?
a. 50%
b. 67%
c. 150%
d. 33%
Evaluation of operating income and Li Retailing reported the following items for the current yea
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