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Stacy Company's actual manufacturing overheadwas $300,000. Overhead wasunderappliedby $20,000 and overhead was allocated on the basis of direct labor hours. The actual direct labor hours

Stacy Company's actual manufacturing overheadwas $300,000. Overhead wasunderappliedby $20,000 and overhead was allocated on the basis of direct labor hours. The actual direct labor hours were 50,000 for the period and the budgeted direct labor hours were 35,000. What is the manufacturing overhead rate that was used for the year?

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