Current Attempt in Progress Coronado Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are estimated to total $294,400 for the year, and machine usage is estimated at 128,000 hours. For the year, $313,230 of overhead costs are incurred and 130,100 hours are used. (a) Compute the manufacturing overhead rate for the year. (Round answer to 2 decimal places, e.g. 1.25.)