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Henkes Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year....

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Accounting

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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 52,000 labor hours. The estimated variable manufacturing overhead was $9.30 per labor-hour and the estimated total fixed manufacturing overhead was $858,000. The actual labor-hours for the year turned out to be 55,800 labor-hours Required: Compute the company's predetermined overhead rate for the recently completed year. (Round your answer to 2 decimal places.) Predetermined overhead rate 40:40 per labor-hour

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