Almaraz Corporation has two manufacturing departments-Forming and Finishing. The company used the following data at the beginning of the year to calculate predetermined overhead rates: FormingFinishingTotalEstimated total machine-hours (MHs) 7,000 3,000 10,000Estimated total fixed manufacturing overhead cost$40,600$8,100$48,700Estimated variable manufacturing overhead cost per MH$1.30$2.80 Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. That predetermined manufacturing overhead rate is closest to:
A. $7.10
B. $4.87
C. $4.10
D. $6.62
Answer: D
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