Merrick company computes a predetermined overhead rate at the beginning of the year and uses it to apply overhead to jobs throughout the year. merrick has several custom jobs in process. one of these jobs, c628, was in work in process inventory at the beginning of month. job c628 had direct materials of $6,200, direct labor of $8,680, and overhead of $17,360. if merrick applies overhead based on direct labor cost, what is merrick’s predetermined overhead rate for the year?

Match the terms with their correct definition. terms: 1. accounts receivable 2. other receivables 3 debtor 4. notes receivable 5. maturity date 6. creditor definitions: a. the party to a credit transaction who takes on an obligation/payable. b. the party who receives a receivable and will collect cash in the future. c. a written promise to pay a specified amount of money at a particular future date. d. the date when the note receivable is due. e. a miscellaneous category that includes any other type of receivable where there is a right to receive cash in the future. f. the right to receive cash in the future from customers for goods sold or for services performed.