Archangel Manufacturing Calculated a Predetermined Overhead Allocation Rate at the Beginning

Archangel Manufacturing calculated a predetermined overhead allocation rate at the beginning of the year based on direct labor costs.The production details for the year are given below: $\begin{array} { | l | l | } \hline \text { Total manufacturing overhead costs estimated at the beginning of the year } & \$ 150,000 \\\hline \text { Total direct labor costs estimated at the beginning of the year } & \$ 340,000 \\\hline \text { Total direct labor hours estimated at the beginning of the year } & 10,000 \text { direct labor hours } \\\hline \text { Actual manufacturing overhead costs for the year } & \$ 150,000 \\\hline \text { Actual direct labor costs for the year } & \$ 360,000 \\\hline \text { Actual direct labor hours for the year } & 11,000 \text { direct labor hours }\\\hline\end{array}$ Calculate the manufacturing overhead allocation rate for the year based on the above data.(Round your final answer to two decimal places.)

A) 44.12%
B) 240.00%
C) 11.33%
D) 27.27%