The manufacturing overhead budget at Polich Corporation is based on budgeted direct labor-hours. The direct labor budget indicates that 9,200 direct labor-hours will be required in February. The variable overhead rate is $9.80 per direct labor-hour. The company's budgeted fixed manufacturing overhead is $104,880 per month, which includes depreciation of $18,200. All other fixed manufacturing overhead costs represent current cash flows. The company recomputes its predetermined overhead rate every month.
The predetermined overhead rate for February should be:

a) $21.20 per direct labor-hour
b) $9.80 per direct labor-hour
c) $11.40 per direct labor-hour
d) $18.90 per direct labor-hour

Verizon communications, inc., provides the following footnote relating to its leasing activities in its 10-k report. the aggregate minimum rental commitments under noncancelable leases for the periods shown at december 31, 2010, are as follows: years (dollars in millions) capital leases operatingleases 2011 $97 $1,898 2012 74 1,720 2013 70 1,471 2014 54 1,255 2015 42 1,012 thereafter 81 5,277 total minimum 418 $ 12,633 rental commitments less interest and (86) executory costs present value of 332 minimum lease payments less current (75) installments long-term obligation $257 at december 31, 2010 (a) confirm that verizon capitalized its capital leases using a rate of 7.4 %. (b) compute the present value of verizon's operating leases, assuming an 7.4% discount rate and rounding the remaining lease term to 3 decimal places. (use a financial calculator or excel to compute. do not round until your final answers. round each answer to the nearest whole number.)