Cost Factory insurance (fully expired) Administrative office utilities Factory utilities Office supplies (fully consumed) Amount $14,000 $5,100 $32,700 $4,200 Additional information about Bramble's operations in 2017 includes the following: Raw materials purchases for the year amounted to $1,948,000. All materials were purchased on account. The company used $1,860,000 in raw materials during the year. Of that amount, 85% was direct materials and 15% was indirect materials. Bramble applied overhead to Work in Process Inventory based on direct materials cost. Airplanes costing $3,450,000 to manufacture were completed and transferred out of Work in Process Inventory. Bramble uses a markup of 80% to price its airplanes. Sales for the year were $6,570,000. All sales are made on account. (Note: This transaction requires two journal entries.) [2] Your answer is correct. What was Bramble's predetermined overhead rate in 2017? (Round answer to 2 decimal places, e.g. 52.75%.) Predetermined overhead rate 72.91 % of direct materials cost Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS SHOW SOLUTION LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO VIDEO LINK TO VIDEO