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Cavy Company estimates that the factory overhead for the following year will be $1,508,400. The...

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Accounting

Cavy Company estimates that the factory overhead for the following year will be $1,508,400. The company has decided that the basis for applying factory overhead should be machine hours, which is estimated to be 41,900 hours. Calculate the predetermined overhead rate to apply factory overhead. Round your answer to the nearest cent. $ per machine hour

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