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Moody Corporation uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company made
Moody Corporation uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company made the following estimates:
Machine-hours required to support estimated production =100,000
Fixed manufacturing overhead cost = $650,000
Variable manufacturing overhead cost per machine-hour = $3.00
What is the predetermined overhead rate?
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