The following budget data are available for Happy Company: 
If factory overhead is to be applied based on direct labor dollars, the predetermined overhead rate is
Definitions:
Intercompany Sales
Transactions involving the exchange of goods or services between subsidiaries within the same parent company.
Mark-Up
The amount added to the cost price of goods to cover overhead and profit, resulting in the selling price.
Effective Tax Rate
The true percentage of earnings that a person or business pays to the government, determined by dividing their total tax contribution by their taxable income.
Consolidated Statements
Consolidated Statements are financial reports that aggregate the financial position and operating results of a parent company and its subsidiaries, presenting them as a single entity.
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