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The Work in Process inventory account of a manufacturing company shows a balance of $33,000 at the end of an accounting period. The job cost sheets of the two uncompleted jobs show charges of $7,500 and $4,500 for materials, and charges of $8,500 and $6,500 for direct labor. From this information, it appears that the company is using a predetermined overhead rate, as a percentage of direct labor costs, of:

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M971571

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