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Assume that a company uses a standard cost system and applies overhead to production based on direct labor-hours. It provided the following information for

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Assume that a company uses a standard cost system and applies overhead to production based on direct labor-hours. It provided the following information for its most recent year Total budgeted fixed overhead cost for the year Actual fixed overhead cost for the year Budgeted direct labor-hours Actual direct labor-hours Standard direct labor-hours allowed for the actual output The fixed portion of the predetermined overhead rate is closest to: $ 279,000 $ 276,000 60,000 56,000 58,000

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