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Jones Company is a consulting firm and applies indirect overhead costs based on billing hours. The firm expects to have $75,000 in indirect costs during

Jones Company is a consulting firm and applies indirect overhead costs based on billing hours. The firm expects to have $75,000 in indirect costs during the year and bill customers for 7,500 hours. The cost of direct labor is $55 per hour.

What is the predetermined overhead allocation rate for Jones Company?

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