Use the following data to compute total factory overhead costs for the month: sales commissions.. $10,800 direct labor 39,600 indirect materials. 15,200 factory manager salaries 7,200 factory supplies 9,000 indirect labor 6,300 depreciation–office equipment 5,000 direct materials 40,500 corporate office salaries 42,500 depreciation–factory equipment 7,500

Harris fabrics computes its predetermined overhead rate annually on the basis of direct labor-hours. at the beginning of the year, it estimated that 34,000 direct labor-hours would be required for the period’s estimated level of production. the company also estimated $599,000 of fixed manufacturing overhead expenses for the coming period and variable manufacturing overhead of $3.00 per direct labor-hour. harris's actual manufacturing overhead for the year was $768,234 and its actual total direct labor was 34,500 hours. required: compute the company's predetermined overhead rate for the year. (round your answer to 2 decimal places.)