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What is the predetermined overhead rate

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Question

Moody Corporation uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company made the following estimates:

Machine-hours required to support estimated production = 100,000

Fixed manufacturing overhead cost = $650,000

Variable manufacturing overhead cost per machine-hour = $3.00

What is the predetermined overhead rate?

Reference no: EM132409496

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