Henkes Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At...

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Henkes Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning of the most recently completed year, the company estimated the labor-hours for the upcoming year at 75,000 labor-hours. The estimated variable manufacturing overhead was $7.10 per labor-hour and the estimated total fixed manufacturing overhead was $1,372,500. The actual labor-hours for the year turned out to be 77,000 labor-hours. Required: Compute the company's predetermined overhead rate for the recently completed year. Note: Round your answer to 2 decimal places. Predetermined overhead rate per labor-hour Henkes Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning of the most recently completed year, the company estimated the labor-hours for the upcoming year at 75,000 labor-hours. The estimated variable manufacturing overhead was $7.10 per labor-hour and the estimated total fixed manufacturing overhead was $1,372,500. The actual labor-hours for the year turned out to be 77,000 labor-hours. Required: Compute the company's predetermined overhead rate for the recently completed year. Note: Round your answer to 2 decimal places. Predetermined overhead rate per labor-hour

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