Dubois Decors is an interior decorator in St.Louis, Missouri.The following costs were incurred in the firm's contract to redecorate a corporate CEO's office. 
The firm's budget for the year included the following estimates: 
Overhead is applied to contracts using a predetermined overhead rate calculated annually.The rate is based on direct professional labor cost. What is the predetermined overhead rate?
A) 62.5%
B) 58.3%
C) 160%
D) 171%
E) None of these choices are correct.
Correct Answer:
Verified
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