A manufacturing firm projects $12,200,000 in total factory overhead costs for the next year. Of this, $10,750,000 is expected for factory maintenance and $1,450,000 for machine repairs. The company applies overhead using machine hours, and 700,000 machine hours are expected for the year. What is the plantwide overhead rate? a. $16.00 per machine hour b. $18.25 per machine hour c. $17.43 per machine hour d. $19.75 per machine hour e. $20.30 per machine hour

A manufacturing firm projects $12,200,000 in total factory overhead costs for the next year. Of this, $10,750,000 is expected for factory maintenance and $1,450,000 for machine repairs. The company applies overhead using machine hours, and 700,000 machine hours are expected for the year. What is the plantwide overhead rate? a. $16.00 per machine hour b. $18.25 per machine hour c. $17.43 per machine hour d. $19.75 per machine hour e. $20.30 per machine hour