Meli Corporation manufactures two products: Product L61P and Product B60E. The company uses a plantwide overhead rate based on direct labor-hours. It is considering implementing an activity-based costing (ABC) system that allocates its manufacturing overhead to four cost pools. The following additional information is available for the company as a whole and for Products L61P and B60E. 
Using the plantwide overhead rate, the percentage of the total overhead cost that is allocated to Product L61P is closest to:
Definitions:
Business Executives
Individuals who hold senior positions within a company, responsible for making strategic decisions to guide the organization's direction and financial success.
Retired Persons
Individuals who have ended their professional career or working life and are often eligible for certain benefits like pensions.
Opportunity Cost
The financial impact of rejecting the most viable alternative during a decision process.
Highest Valued Use
The use of a resource or good that provides the most benefit or value to its user.
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