Exercise $3-1($Algo$)$ Compute a Predetermined Overhead Rate $[$LO$3-1]$

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 $26,000$ direct labor$-$hours would be required for the period's estimated level of production. The company also

estimated $$577,000$ of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $$2\mathrm{.}00$ per

direct labor$-$hour. Harris's actual manufacturing overhead cost for the year was $$686,146$ and its actual total direct labor was $26,500$

hours.

Required:

Compute the company's plantwide predetermined overhead rate for the year.

Note: Round your answer to $2$ decimal places.