Goldman Sachs is a renowned investment banking firm on Wall Street. Goldman provides budget, savings, and investment services to clients who want a stress-free financial lifestyle. The firm customizes a program for each client based on their individual goals that includes budget recommendations, investment counseling, and savings techniques. Goldman Sachs uses a job order cost system that keeps track of the cost of the amount of time financial consultants spend with each client. As part of the strategy, Goldman applies all indirect operating costs (e.g., rent, utilities, and management salaries) as a percentage of the consultant's labor cost. During the most recent year, the firm estimated that it would pay $350,000 to its consultants and incur indirect operating costs of $490,000. Actual consultant labor costs were $376,250 and actual indirect operating costs were $465,000. What is the predetermined overhead rate that Goldman will use for the current year? Multiple Choice $1.40 per dollar of consultant labor cost. $1.24 per dollar of consultant labor cost. $.71 per dollar of consultant labor cost. o o $1.33 per dollar of consultant labor cost