The Equinox Fabrication Plant Suffered a Fire Incident in August,and

The Equinox Fabrication Plant suffered a fire incident in August,and most of the records for the year were destroyed.The following accounting data for the year were recovered: $$\begin{array} { |l | r | } \hline\begin{array} { l } \text { Total manufacturing overhead estimated at the beginning of the } \\\text { year }\end{array} & \$ 103,520 \\\hline \text { Total direct labor costs estimated at the beginning of the year } & \$ 185,000 \\\hline \text { Total direct labor hours estimated at the beginning of the year } & 3,500 \text { direct labor hours } \\\hline \text { Actual manufacturing overhead costs for the year } & \$ 99,570 \\\hline \text { Actual direct labor costs for the year } & \$ 150,000 \\\hline \text { Actual direct labor hours for the year } & 2,950 \text { direct labor hours } \\\hline\end{array}$$ The company bases its manufacturing overhead allocation on the number of direct labor hours.What was the predetermined overhead allocation rate for the year? (Round your answer to the nearest cent. )

A) $35.09
B) $1.86
C) $29.58
D) $62.71