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: $\begin{array} { | l | l | } \hline \text { Total manufacturing overhead estimated at the beginning of the year } & \$ 103,520 \\\hline \text { Total direct labor costs estimated at the beginning of the year } & \$ 185,000 \\\hline \text { Total direct labor hours estimated at the beginning of the year } & 3500 \text { direct labor hours } \\\hline \text { Actual manufacturing overhead costs for the year } & \$ 99,570 \\\hline \text { Actual direct labor costs for the year } & \$ 150,000 \\\hline \text { Actual direct labor hours for the year } & 2950 \text { direct labor hours } \\\hline\end{array}$ 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