Herkes Corporation bases its predetermined overhead rate on the estimated labor hours for the upcoming year. At the beginning of the most recently completed year, the company estimated the labor hours for the upcoming year at 55,000 labor hours. The estimated variable manufacturing overhead was $10.50 per labor hour and the estimated total fixed manufacturing overhead was $1061,500. The actual labor hours for the year turned out to be 57700 labor hours. Required: Compute the company's predetermined overhead rate for the recently completed year. (Round your answer to 2 decimal places.) Predetermined overhead rate per tabor hour to search O i RA 7 8 9 O E R T Y I [ 3 S D F G H K L ? paule V B N M