Affordable Furniture makes sofas, loveseats, and recliners. The company allocates manufacturing overhead based on direct labor hours. Affordable estimated a total of $2.4 million of manufacturing overhead and 46,000 direct labor hours for the year. Job 210 consists of a batch of 5 recliners. (Click the icon to view more information.) Read the requirements. Requirement 1. Compute the company's predetermined manufacturing overhead rate. (Enter all amounts as whole dollars and not in millions. Round the predetermined overhead rate to the nearest whole dollar.) First calculate the predetermined overhead rate based on direct labor hours. Identify the formula and then compute the rate. Estimated yearly overhead costs 2400000 Estimated yearly direct labor hours = Predetermined overhead rate 46000 53 per DL hour