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Compute the predetermined overhead rate based on the following data: Estimated total overhead for the year $500,000 Actual amount of overhead for the year 475,000

Compute the predetermined overhead rate based on the following data:

Estimated total overhead for the year $500,000

Actual amount of overhead for the year 475,000

Estimated total machine hours for the year 25,000

Actual total machine hours for the year 24,300

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