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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 38,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $592,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $3.00 per direct labor-hour. Harris's actual manufacturing overhead cost for the year was $780,739 and its actual total direct labor was 38,500 hours Required: Compute the company's plantwide predetermined overhead rate for the year. (Round your answer to 2 decimal places.) Prodetermined overhead rato por DLH