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 43,000 direct labor-hours would be required for the periods estimated level of production. The company also estimated $533,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $4.00 per direct labor-hour. Harriss actual manufacturing overhead cost for the year was $784,973 and its actual total direct labor was 43,500 hours.

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 43,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $533.000 of fixed manufacturing overhead cost for the coming perlod and variable manufacturing overhead of $4.00 per direct labor-hour. Harris's actual manufacturing overhead cost for the year was $784.973 and its actual total direct labor was 43,500 hours. Required: Compute the company's plantwide predetermined overhead rate for the year. (Round your answer to 2 decimal places.)