Exercise 2-1 (Algo) Compute a Predetermined Overhead Rate (LO2-1] Harris Fabrics computes its plantwide predetermined overhead rate annually based on direct labor-hours. At the beginning of the year, it estimated 37,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $582,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $4.00 per direct labor- hour. Harris's actual manufacturing overhead cost for the year was $801,740 and its actual total direct labor was 37,500 hours. Required: Compute the company's plantwide predetermined overhead rate. Note: Round your answer to 2 decimal places. Predialermined overhead rate per DLH