The Following Information Has Been Gathered for Cheatham Law Offices

question 33

Multiple Choice

The following information has been gathered for Cheatham Law Offices for its fiscal year ending December 31: What is the predetermined office overhead rate per billable labor hour?

• A)$28.60.
• B)$26.57.
• C)$22.50.
• D)$24.22.

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Definitions:

Ration

To distribute or allocate a resource, good, or service in limited amounts, often during shortages or to ensure equitable distribution.

Good

A material item or service that satisfies a human want or need.

Price

The fiscal amount deemed necessary, expected, or expended in purchasing something.

Rationing Device

A method or system used to allocate scarce goods, services, or resources among competing demands.