Digger Inc. sells a high-speed retrieval system for mining information. It provides the following information for the year. Budgeted Actual Overhead cost $909,000 $884,000 Machine hours 55,000 46,000 Direct labor hours 101,000 98,000 Overhead is applied on the basis of direct labor hours. (a) Your answer is correct. Compute the predetermined overhead rate. (Round answer to 2 decimal places, eg. 12.25.) Predetermined overhead rate $ 9.00 per direct labor hour