Giannitti Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year....
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Accounting
Giannitti Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. Data for the upcoming year appear below:
| Estimated machine-hours | 72,500 | |||
| Estimated variable manufacturing overhead | $ | 3.00 | per machine-hour | |
| Estimated total fixed manufacturing overhead | $ | 838,760 | ||
The predetermined overhead rate for the recently completed year was closest to:
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