I need to calculate the predetermined overhead rate. Can someone please show me how this is done? Thank you in advance.


Direct labor expended on jobs completed in month 1

$100,000

Direct material used up

$500,000

Budgeted manufacturing overhead

$2,000,000

Budgeted production volume

4,000 units

Actual production volume

4,500 units

Supplies, indirect labor, maintenance repair costs totaled

$2,200,000

Beginning work in process inventory

0

Ending work in process inventory

0