The following T-accounts have been constructed from last year's records at C&C Manufacturing: 
C&C Manufacturing uses job-order costing with a predetermined overhead rate and applies manufacturing overhead to jobs based on direct labor costs. What is the predetermined overhead rate?
Definitions:
Promotional Element
Components of the promotional mix used by a company to reach its marketing objectives, including advertising, sales promotion, personal selling, and public relations.
Frozen Orange Juice
A type of commodity trading that involves frozen concentrated orange juice, often traded on futures markets.
Food Warehouse
A large storage facility used to store, manage, and distribute food products to retailers, wholesalers, or directly to consumers.
Inventory
The quantity of goods that a company holds for the purpose of future sale or use.
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