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The following information was taken from the annual manufacturing overhead cost budget of Sheffield Corp..
Variable manufacturing overhead costs $90800
Fixed manufacturing overhead costs $49940
Normal production level in labor hours 22700
Normal production level in units 5675
Standard labor hours per unit 4
Problem 1: During the year, 5500 units were produced, 17940 hours were worked, and the actual manufacturing overhead was $127600. Actual fixed manufacturing overhead costs equaled budgeted fixed manufacturing overhead costs. Overhead is applied on the basis of direct labor hours. Sheffield's total overhead rate is
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