Dallas Company uses a job order costing system. The company's executives estimated that direct labor would be $$3,840,000(160,000$ hours at $$24/$hour$)$ and that factory overhead would be $$1,460,000$ for the current period. At the end of the period, the records show that there had been $140,000$ hours of direct labor and $$1,160,000$ of actual overhead costs. Using direct labor hours as a base, what was the predetermined overhead rate? $($Round your answer to two decimal places.$)$

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ANSWER To calculate the predetermined overhead rate ... View the full answer