Required information [The following information applies to the questions displayed below.] The following...

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Accounting

Required information
[The following information applies to the questions displayed below.]
The following information pertains to Trenton Glass Works for the year just ended.
Budgeted direct-labor cost: 70,000 hours (practical capacity) at $16 per hour
Actual direct-labor cost: 80,000 hours at $17.50 per hour
Budgeted manufacturing overhead: $997,500
Actual selling and administrative expenses: 433,000
Required:
Compute the firm's predetermined overhead rate, which is based on direct-labor hours. (Round your answer to 2 decimal places.)
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