Acompany had purchased $10,000 of inventory in the month of january, took advantage of purchase discounts of $500, and paid $1000 to have the goods shipped to their factory. they paid $250 to insure the inventory against fire and spent $750 to store the inventory. the company did not return any of the inventory they purchased. what is the company's 'net purchases' for the month of january?

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.)