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QUESTION 1 Townley Inc. has provided the following data for the month of February. There were no beginning inventories consequently, the direct materials (DM) , direct labor (DL) , and manufacturing overhead applied (MOH) listed are all for February: WIP FG CGS DM $ 7, 570 $19, 200 $ 35, 280 DL $ 8, 810 $24, 000 $ 44, 100 MOH $ 8, 320 $15, 600 $ 28, 000 Total $24, 700 $58, 800 $107, 460 Manufacturing overhead for the month was overapplied by $7853. The company allocates any underapplied or overapplied overhead to Work-in-Process, Finished Goods, and Cost of Goods Sold at the end of the month on the basis of the overhead applied during the month in those accounts. What is the rate Townley should use to adjust the original overhead assignment that resulted in the overapplied overhead? (Round your answer to the nearest $0.001, use positive numbers only)