Blossom Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $22.400 direct labor $13,440, and manufacturing overhead $17.920. As of January 1. Job 49 had been completed at a cost of $100,800 and was part of finished goods inventory. There was a $16,800 balance in the Raw Materials Inventory account During the month of January, Blossom Company began production on Jobs 51 and 52, and completed Jobs 50 and 51. Jobs 49 and 50 were also sold on account during the month for $136,640 and $176,960, respectively. The following additional events occurred during the month 1. Purchased additional raw materials of $100,800 on account. 2. Incurred factory labor costs of $78.400. Of this amount $17.920 related to employer payroll taxes. 3. Incurred manufacturing overhead costs as follows: indirect materials $19.040: Indirect labor $22,400, depreciation expense on equipment $13,440, and various other manufacturing overhead costs on account $17.920. 4. Assigned direct materials and direct labor to jobs as follows. Job No. 50 51 52 Direct Materials $11.200 43,680 33,600 Direct Labor $5,600 28,000 22.400 Job No 50 51 52 Direct Materials $11.200 43.680 33.600 Direct Labor $5,600 28,000 22,400 (a) Calculate the predetermined overhead rate for 2020, assuming Blossom Company estimates total manufacturing overhead costs of $940,800, direct labor costs of $784,000, and direct labor hours of 22,400 for the year. Predetermined overhead rate 96