BRIEF EXERCISE 3-3 Computing the Predetermined Overhead Rate [LO3 - CC5] Harris Fabrics computes its predetermined overhead rate annually on the basis of direct labour-hours. At the beginning of the year, it estimated that its total manufacturing overhead would be $540,000 and the total direct labour would be 30,000 hours. Its actual total manufacturing overhead for the year was $547,900, and its actual total direct labour was 31,000 hours. Required: Compute the company's predetermined overhead rate for the year. BRIEF EXERCISE 3-4