Question: Gamma Enterprise uses machine-hours as the only overhead cost-allocation base and allocates manufacturing overhead costs based on budgeted rate. The following data has been provided

Gamma Enterprise uses machine-hours as the only overhead cost-allocation base and allocates manufacturing overhead costs based on budgeted rate. The following data has been provided for the year 2022: the direct cost rate for one of the products is $4 per unit, and the selling price of the product is $34. Other information for 2022 include: the budgeted manufacturing overhead costs are $260259 and budgeted machine hours are 39983; and the actual manufacturing overhead costs are $332478 and actual machine hours are 43024. Compute the percentage of profit margin earned if each unit of the product requires 3 machine-hours. (Round the final answer to 2 decimal places.)

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