Luster, LLC uses departmental overhead rates. The company has two departments, fabrication and painting. Relevant data is below. Fabrication department: $12,000 fixed overhead, variable overhead $18 per labor hour Painting department: $28,000 fixed overhead, variable $9 per machine hour The company estimated the following hours: Fabrication department: 900 labor hours and 1,000 machine hours Painting department: 1,200 labor hours and 300 machine hours The overhead rate is applied based on machine hours in the fabrication department and labor hours in the painting department. What is the overhead rate for the fabrication department?

1. all other things equal, according to the law of demand, when the price of a good falls, the demand for the good falls the demand for the good rises the quantity demanded of the good falls the quantity demanded of the good rises 2. when a market is in equilibrium, the quantity of the good that buyers are willing and able to buy exactly equals the quantity that sellers are willing and able to sell cannot be determined is less than the quantity that sellers are willing and able to sell is greater than the quantity that sellers are willing and able to sell 3. which of the following factors does not influence the demand for a good or service? consumer (buyer) income the price of related goods the number of sellers buyer expectations 4. when the number of sellers in a market increases, demand rises supply rises the price rises, all else equal the number of buyers falls