Crane 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 $20,400, direct labor $12,240, and manufacturing overhead $16,320. As of January 1 , Job 49 had been completed at a cost of $91,800 and was part of finished goods inventory. There was a $15,300 balance in the Raw Materials Inventory account. During the month of January, Crane 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 $124,440 and $161,160, respectively. The following additional events occurred during the month. 1. Purchased additional raw materials of $91,800 on account. 2. Incurred factory labor costs of $71,400. Of this amount $16,320 related to employer payroll taxes. 3. Incurred manufacturing overhead costs as follows: indirect materials $17,340; indirect labor $20,400; depreciation expense on equipment $12,240; and various other manufacturing overhead costs on account $16,320. 4. Assigned direct materials and direct labor to jobs as follows. Calculate the predetermined overhead rate for 2020 , assuming Crane Company estimates total manufacturing overhead costs of $856,800, direct labor costs of $714,000, and direct labor hours of 20,400 for the year. Predetermined overhead rate %