Halifax Architectural Consultants (HAC) began operations on January 2. The following activity was recorded in the company's work-in- process account for the first month of operations Work in Process $520,000 To completed projects 187,440 234,300 Costs of subcontracted work Direct staff costs Studio overhead $890,000 HAC is a service firm; thus, the names of its accounts differ from those used in manufacturing firms. Costs of subcontracted work are basically the same as direct materials, direct staff costs are the same as direct labour, studio overhead is the same as manufacturing overhead, and completed projects are the same as finished goods. Apart from the difference in terms, the accounting methods used by the company are identical to the methods used by manufacturing companies HAC uses a job-order costing system, applying studio overhead to work in process on the basis of direct staff costs. At the end of January, only one job (Labrador Gardens Project) was still in process; it was charged with $4,000 in direct staff costs. Required: 1. Compute the predetermined overhead rate that was in use during January Prodetermined overhead tato %