Exercise 2-1 (Algo) Compute a Predetermined Overhead Rate (LO2-13 2 points 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 30,000 direct labor hours would be required for the period's estimated level of production. The company also estimated $594,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $4.00 per direct labor-hour. Harris's actual manufacturing overhead cost for the year was $773,175 and its actual total direct labor was 30,500 hours. Required: Compute the company's plantwide predetermined overhead rate for the year. (Round your answer to 2 decimal places.) ellook Predetermined overhead rale per DLH Hi References