Crowson Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data:
Required:
Calculate the predetermined overhead rate for the year.
Definitions:
Public Good
A good that is non-excludable and non-rivalrous, meaning it can be used by many people simultaneously without depletion.
Free-rider Problem
A situation in which some individuals consume more than their fair share of a public resource, or shoulder less of the cost of its production, benefiting from goods or services without paying for them.
Nonexcludable Problem
An issue characteristic of public goods, where it is not possible to prevent individuals who do not pay from consuming a good or service.
Optimal Level
The most favorable or efficient level of output or activity under given conditions, maximizing benefits or minimizing costs.
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