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Harris Fabrics computes its plantwide predeternined overthead rate annually on the basis of direct labor-hours....

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Accounting

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Harris Fabrics computes its plantwide predeternined overthead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 25,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $595,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $4.00 per direct laborhour. Harris's actual manufocturing overheod cost for the year was $752,250 and its actual total direct labor was 25,500 hours. Requited: Compute the company's plantwide predetermined overhead rate for the year. (Round your answer to 2 decimal places.)

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