Macy Corporation manufactures custom cabinets for kitchens. It uses a normal-costing system with two direct-cost categoriesdirect materials and direct manufacturing laborand one indirect-cost pool, manufacturing overhead costs. It provides the following information for 2020: (Click the icon to view the information for 2020.) Read the requirement. Begin by calculating the budgeted indirect cost rate. Select the formula and then calculate the rate. (Assume the cost allocation base is direct labor hours.) = Budgeted indirect cost rate i X Data Table 924,000 33,000 hours Budgeted manufacturing overhead costs Budgeted direct manufacturing labor-hours Actual manufacturing overhead costs Actual direct manufacturing labor-hours $ 1,260,000 30,000 hours Print Done Choose from any list or enter any number in the input fields and then click Check