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Adams Manufacturing allocates overhead to production on the basis of direct labor costs. At the...

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Accounting

Adams Manufacturing allocates overhead to production on the basis of direct labor costs. At the beginning of the year, Adams estimated total overhead of $292,500; materials of $415,000 and direct labor of $225,000. During the year Adams incurred $423,000 in materials costs, $415,100 in overhead costs and $229,000 in direct labor costs. Compute the predetermined overhead rate

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