Fritz Furniture sells unfinished wood bookshelves. Recently, the firm contemplated switching to production of painted bookshelves and determined its net income per unit for the painted shelves would be $12 lower than that for the unpainted shelves. Shortly after reaching this conclusion, Fritz discovered that it had overestimated its fixed production costs for the unfinished shelves by $15 and underestimated its variable production costs for painting the shelves by $10. If Fritz reperforms its incremental analysis using the correct cost estimates, it will conclude that

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.)