Exercise 3-1 (Algo) Compute a Predetermined Overhead Rate [LO3-1]Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 45,000 direct labor-hours would be required for the periods estimated level of production. The company also estimated $571,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $2.00 per direct labor-hour. Harriss actual manufacturing overhead cost for the year was $745,694 and its actual total direct labor was 45,500 hours. Required:Compute the companys plantwide predetermined overhead rate for the year. (Round your answer to 2 decimal places.)

Week 3 Chapter 3 Exercises Saved Help Save & Exit Submit Check my work 1 Exercise 3-1 (Algo) Compute a Predetermined Overhead Rate [LO3-1] 25 points Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 45,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $571,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $2.00 per direct labor-hour. Harris's actual manufacturing overhead cost for the year was $745,694 and its actual total direct labor was 45,500 hours. Skipped eBook Required: Compute the company's plantwide predetermined overhead rate for the year. (Round your answer to 2 decimal places.) Print References Predetermined overhead rate per DLH