Acc505 Managerial Accounting: (TCO F) Buckhorn Corporation bases its predetermined overhead rate

Acc505 Managerial Accounting

(TCO F)
Buckhorn Corporation bases its predetermined overhead rate on the estimated machine hours for the upcoming year. Data for the upcoming year appear below.
Estimated machine hours 85,000
Estimated variable manufacturing overhead 5.55
Estimated total fixed manufacturing overhead 951,888

Required:
Compute the company's predetermined overhead rate.
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