MMM Corp. calculates its budgeted manufacturing overhead rate for the upcoming year based on direct labor-hours. At the beginning of the most recently completed year, the company estimated the labor-hours for the upcoming year at 38,100 labor-hours. The estimated variable manufacturing overhead was $5.55 per labor-hour and the estimated total fixed manufacturing overhead was $872,109. The actual labor-hours for the year turned out to be 34,500 labor-hours. The budgeted manufacturing overhead rate for the recently completed year was closest to:
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MMM Corp. calculates its budgeted manufacturing overhead rate for the upcoming year based on direct...
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