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The following cost data pertains to GHI Inc. for December 31st, 2019: Beginning Work-in-Process: Ending...

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The following cost data pertains to GHI Inc. for December 31st, 2019: Beginning Work-in-Process: Ending Work-in-Process: Direct Materials Used: Direct Costs Incurred in Production: $10,000 $ 5,000 $20,000 $30,000 $38,000 ($20,000 of which is fixed $40,000 $20,000 Actual Indirect costs incurred in Production: Beginning Finished Goods Inventories: Ending Finished Goods Inventories: Budgeted Fixed Factory Overhead was $25,000 based on an expected activity level of 5,000 hours. During the period, GHI employees worked a total of 8,000 direct labour hours. GHI uses a job-order costing system and applies overhead costs using direct labour hours. What was GHI's actual fixed overhead rate? Multiple Choice $5 per direct labour hour $4.50 per direct labour hour $2.50 per direct labour hour $4.67 per direct labour hour

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