Crane Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are estimated to total $235,750 for the year, and machine usage is estimated at 102,500 hours. For the year, $264,040 of overhead costs are incurred, and 106,600 hours are used.

Compute the manufacturing overhead rate for the year. (Round answer to 2 decimal places, e.g. 1.25.)

Manufacturing overhead rate

$enter the manufacturing overhead rate in dollars per machine hour rounded to 2 decimal places

per machine hour