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Dubois Decors is an interior decorator in St. Louis, Missouri. The following costs were incurred...

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Accounting

Dubois Decors is an interior decorator in St. Louis, Missouri. The following costs were incurred in the firms contract to redecorate a corporate CEOs office.

Direct material used

$

35,000

Direct professional labor

$

60,000

The firms budget for the year included the following estimates:

Budgeted overhead

$

400,000

Budgeted direct professional labor

$

250,000

Overhead is applied to contracts using a predetermined overhead rate calculated annually. The rate is based on direct professional labor cost. What is the predetermined overhead rate?

a. 62.5%

b. 58.3%

c. 150%

d. 170%

e. None of these choices are correct. The correct number is: ________________

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