Cherry Associates uses a job-order costing system and applies overhead on the basis of direct...
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Accounting
Cherry Associates uses a job-order costing system and applies overhead on the basis of direct labor hours. At the beginning of the year, management estimated that 26,000 direct labor hours would be worked and $1,300,000 of manufacturing overhead costs would be incurred. During the year, the company actually worked 24,000 direct labor hours and incurred the following manufacturing costs: Calculate the predetermined overhead application rate for the year. (Enter your answer rounded to the nearest whole number.)
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