Henkes Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning of the most recently completed year, the company estimated the labor-hours for the upcoming year at 69,000 labor-hours. The estimated variable manufacturing overhead was $7.30 per labor-hour and the estimated total fixed manufacturing overhead was $1,380,000. The actual labor-hours for the year turned out to be 73,000 labor-hours.Required:Compute the company's predetermined overhead rate for the recently completed year. (Round your answer to 2 decimal places.)

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The Answer of Henkes Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning of the most recently completed year, the company estimated the labor-hours for the upcoming year at 69,000 labor-hours. The estimated variable manufacturing overhead was $7.30 per labor-hour and the estimated total fixed manufacturing overhead was $1,380,000. The actual labor-hours for the year turned out to be 73,000 labor-hours.Required:Compute the company's predetermined overhead rate for the recently completed year. (Round your answer to 2 decimal places.)

Henkes Corporation Bases Its Predetermined Overhead Rate on the Estimated