Christofferse Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. Data for the most recently completed year appear below:

Estimates made at the beginning of the year:

Estimated Machine Hours... 38,000

Estimated variable manufacturing overhead....... $3.33 per machine-hour

Estimated total fixed manufacturing overhead....... $548,720

Actual machine-hours for the year 33,700

Question:

Compute the companys predetermined overhead rate for the recently completed year.