Digger Inc. sells a high-speed retrieval system for mining information. It provides the following information for the year.

Budgeted

Actual

Overhead cost$1,286,740$1,257,740Machine hours58,60047,600Direct labor hours101,00097,500

Overhead is applied on the basis of direct labor hours.

Compute the predetermined overhead rate.(Round answer to 2 decimal places, e.g. 12.25.)

Predetermined overhead rate$

Type your answer here

per direct labor hour

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