5 Required information The Foundational 15 (Algo) [LO7-1, LO7-3, LO7-4] [The following information applies to the questions displayed below.] Hickory Company manufactures two products-15,000 units of Product Y and 7,000 units of Product Z. The company uses a plantwide overhead rate based on direct labor-hours. It is considering implementing on activity-based costing (ABC) system that allocates all $674,000 of its manufacturing overhead to four cost pools. The following additional information is available for the company as a whole and for Products Y and Z Activity Cost Pool Machining Machine setups Product design Activity Measure Machine-hours Number of setups Number of products Estimated Overhead Cost $ 216,700 $ 79,900 Expected Activity 11,000 MHS 170 setups 2 products $ 81,000 $296,400 13,200 DLHS General factory Activity Measure Machine-hours Direct labor-hours Product Y Product Z Number of setups 6,700 60 4,300 110 Number of products 1 1 Direct labor-hours 7,700 5,500 Foundational 7-1 (Algo) Required: 1. What is the company's plantwide overhead rate? (Round your answer to 2 decimal places.) Plantwide overhead rate per DLH N