The following budget data are available for Sharp Company: 
If factory overhead is to be applied based on direct labor dollars, the predetermined overhead rate is
Definitions:
Scarce Resources
Limited availability of resources that are necessary for humans or an organization to meet its needs or to achieve its goals.
Production Possibilities
A curve depicting all maximum output possibilities for two or more goods given a set of inputs (resources, labor, etc.).
Labor Hours
The total amount of work time that a worker or workforce expends on producing goods or providing services in a given period.
Pastrami
A seasoned and smoked meat product made from beef, typically enjoyed as a deli sandwich filling.
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