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Company XYZ estimates its total manufacturing overhead costs to be $300,000 for the upcoming period. They also expect the total direct labor hours to be

Company XYZ estimates its total manufacturing overhead costs to be $300,000 for the upcoming period. They also expect the total direct labor hours to be 15,000. Determine the predetermined overhead rate, explaining its significance in cost allocation and managerial decision-making. Present the formula and detailed calculation process.

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