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6 1 point Ikerd Company applies manufacturing overhead to jobs on the...

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Accounting

6
1 point
Ikerd Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are estimated to total $300,000 for the year, and machine usage is estimated at 125,000 hours.
For the year, $322,000 of overhead costs are incurred, and 130,000 machine hours are used.
Compute the manufacturing overhead rate for the year.
10,000
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