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Baker Corporation applies manufacturing overhead on the basis of direct labor-hours. At the beginning of the most recent year, the company based its predetermined overhead rate on total estimated overhead of $61,400 and 2,000 estimated direct labor-hours. Actual manufacturing overhead for the year amounted to $63,350 and actual direct labor-hours were 1,850. The predetermined overhead rate for the year was closest to: (Round your answer to 2 decimal places.)

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9962981

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