The following information pertains to Black Corporation for 2011: 
What is the predetermined overhead rate for Black Corporation for 2011?
Definitions:
EOQ
Economic Order Quantity; a model used in inventory management to determine the optimal order size that minimizes total holding costs and ordering costs.
Setup Cost
The expenses incurred in preparing equipment or processes for a production run or the start of an operation.
Holding Cost
The expenses associated with storing inventory over a period of time, including warehousing, insurance, spoilage, and obsolescence costs.
Net Requirements
The total demand for a product minus the quantity already on hand or on order, indicating the actual quantity needed to meet demand.
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