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Hibshman Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year....

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Accounting

Hibshman Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. At the beginning of the most recently completed year, the company estimated the machine-hours for the upcoming year at 25,000 machine-hours. The estimated variable manufacturing overhead was $8.29 per machine-hour and the estimated total fixed manufacturing overhead was $237,700. The predetermined overhead rate for the recently completed year was closest to:

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