Exercise 2-1 (Algo) Compute a Predetermined Overhead Rate (LO2-1) Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 36,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $583,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $3.00 per direct labor hout. Harris's actual manufacturing overhead cost for the year was $762,647 and its actual total direct labor was 36,500 hours Required: Compute the company's plantwide predetermined overhead rate for the year. (Round your answer to 2 decimal places.) $ Predetermined overhead role 5.40 per DLH