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Exercise $2-1($Algo$)$ Compute a Predetermined Overhead Rate $[$LO$2-1]$

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points

Harris Fabrics computes its plantwide predetermined overhead rate annually based on direct labor$-$hours. At the beginning of the year, it estimated $36,000$ direct labor$-$hours would be required for the period's estimated level of

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production. The company also estimated $$505,000$ of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $$2\mathrm{.}00$ per direct labor$-$hour. Harris's actual manufacturing overhead cost for the year

Hint

was $$639,764$ and its actual total direct labor was $36,500$ hours.

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Required:

Compute the company's plantwide predetermined overhead rate.

Note: Round your answer to $2$ decimal places.

Predetermined overhead rate

per DLH