7. Apple, Inc., decides to manufacture new products by calculating the predetermined overhead allocation rate at the beginning of the year based on direct labor costs. The production details for the year are given below: $190,000 Total manufacturing overhead estimated at the beginning of the year $370,000 Total direct labor costs estimated at the beginning of the year Total direct labor hours estimated at the beginning of the year Actual manufacturing overhead costs for the year 12,000 direct labor hours $170,000 Actual direct labor cost for the year $370,000 Actual direct labor for the year 15,200 direct labor hours Apple, Inc., calculates the manufacturing overhead allocation rate for the year based on the above data. (Round your final answer to two decimal places.)