The Work in Process inventory account of a manufacturing firm shows a balance of $3,000 at the end of an accounting period. The job cost sheets of the only two uncompleted jobs show charges of $500, & $300 for materials, & charges of $400 & $600 for direct labor. From this information, it appears that the company is using a predetermined overhead rate, as a percentage of direct labor costs, of:A) 83%. B) 120%. C) 40%. D) 300%
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