Kody Corporation uses a job-order costing system with a plantwide overhead rate based on machine-hours. At the beginning of the year, the company made the following estimates:
Machine-hours required to support estimated production 156,000
Fixed manufacturing overhead cost $ 660,000
Variable manufacturing overhead cost per machine-hour $ 4.20
Required:
1.
Compute the predetermined overhead rate. (Round your answer to 2 decimal places. Omit the "$" sign in your response.)
Predetermined overhead rate $ per MH