Exercise $2-1($Algo$)$ Compute a Predetermined Overhead Rate $[$LO$2-1]$

Harris Fabrics computes its plantwide predetermined overhead rate annually based on direct labor$-$hours. At the beginning of the year,

it estimated $44,000$ direct labor$-$hours would be required for the period's estimated level of production. The company also estimated

$$583,000$ of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $$3\mathrm{.}00$ per direct labor$-$

hour. Harris's actual manufacturing overhead cost for the year was $$794,325$ and its actual total direct labor was $44,500$ hours.

Required:

Compute the company's plantwide predetermined overhead rate.

Note: Round your answer to $2$ decimal places.

Predetermined overhead rate

per DLHP