Question: The manufacturing overhead budget at Pendley Corporation is based on budgeted direct labor-hours. The direct labor budget indicates that 6,700 direct labor-hours will be required in August. The variable overhead rate is $7.20 per direct labor-hour. The company's budgeted fixed manufacturing overhead is $138,690 per month, which includes depreciation of $24,900. All other fixed manufacturing overhead costs represent current cash flows. The company recomputed its predetermined overhead rate every month.
Required: Calculate the predetermined overhead rate for August?
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