Use the Following Information to Answer Questions

question 48

Multiple Choice

Use the following information to answer questions

A company expected its annual overhead costs to be $750,000 and machine hours to equal 100,000 hours. Actual overhead was $745,000, and actual machine hours totalled 97,000 hours.

-How much is the company's predetermined overhead rate to the nearest cent, assuming overhead is applied based on machine hours?

• A)$7.45
• B)$7.50
• C)$7.68
• D)$7.73

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Definitions:

Clickwrap Agreement

A digital contract that requires users to agree to terms and conditions by clicking a button or checking a box before proceeding with the use of service or software.

Online Agreement

A contract entered into electronically via the internet, covering terms and conditions related to the use of websites or online services.

Contract Terms

Specific provisions or conditions outlined in a contract that define the obligations, rights, and duties of the parties involved.

Negotiations

The process of discussing and arriving at a mutual agreement between parties with differing interests.