Sunland Company produces earbuds. During the year, manufacturing overhead costs are estimated to be $208,000. Estimated machine usage is 2,600 hours. The company assigns overhead based on machine hours. Job No. 551 used 90 machine hours.

Required:
a. Compute the predetermined overhead rate.
b. Determine the amount Of overhead to allocate to Job NO. 551.
c. Prepare the entry to assign overhead to Job No. 551 on January 15.

Because this market is a monopolistically competitive market, you can tell that it is in long-run equilibrium by the fact thatmr=mc at the optimal quantity for each firm. furthermore, a monopolistically competitive firm's average total cost in long-run equilibrium isless than the minimum average total cost. true or false: this indicates that there is a markup on marginal cost in the market for engines. true false monopolistic competition may also be socially inefficient because there are too many or too few firms in the market. the presence of the externality implies that there is too little entry of new firms in the market.