Metalica Company applies overhead based on machine hours. At the beginning of 20x1, the company estimated that manufacturing overhead would be $696,000, and machine hours would total 24,000. By 20x1 year-end, actual overhead totaled $754,000, and actual machine hours were 29,000. On the basis of this information, the 20x1 predetermined overhead rate was

Metalica Company applies overhead based on machine hours. At the beginning of 20x1, the company estimated that manufacturing overhead would be $696,000, and machine hours would total 24,000. By 20x1 year-end, actual overhead totaled $754,000, and actual machine hours were 29,000. On the basis of this information, the 20x1 predetermined overhead rate was: Multiple Choice $0.03 per machine hour $0.04 per machine hour $24 per machine hour. $26 per machine hour. $29 per machine hour