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*Brief Exercise 4-1 a-b (Part Level Submission) Digger Inc. sells a high-speed retrieval system for mining information. It provides the following information for the year. Budgeted Actual Overhead cost $1,198,800 $1,168,800 Machine hours 55,300 48,700 Direct labor 108,000 104,500 hours Overhead is applied on the basis of direct labor hours. *(a) Compute the predetermined overhead rate. (Round answer to 2 decimal places, e.g. 12.25.) Predetermined overhead rate $ per direct labor hour