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[The following information applies to the questions displayed below] Sweeten Company had no jobs in progress at the beginning of the year and no beginning inventories. It started. completed, and sold only two jobs during the year-Job P and Job Q. The company uses a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, it estimated that 4,000 machine hours would be required for the period's estimated level of production. Sweeten also estimated $31,000 of flxed manufacturing overhead cost for the coming period and varlable manufacturing overhead of $3.20 per machine hour. Because Sweeten has two manufacturing departments - Molding and Fabrication - it is considering replacing its plantwide overhead rate with departmental rates that would also be based on machine hours. The company gathered the following additional information to enable calculating departmental overhead rates: The direct materiats cost, direct labor cost, and machine hours used for Jobs P and Q are as follows: Sweeten Company had no overapplied or underapplied manufacturing overhead costs during the yeat Required: For questions 1-8, assume that Sweeten Compary uses a plantwide predetermined overhead rate with machine-hours as the allocation base. For questions, 915, assume that the company uses predetermined departmental overtiead rates with overhead rate with departmental rates that would also be based on machine-hours. The company gathered the following additional information to enable calculating departmental overhead rates: The direct materials cost, direct labor cost, and machine-hours used for Jobs P and Q are as follows: Sweeten Compary had no overapplied or underapplied manufacturing overhead costs duing the year. Required: Required: For questions 1-8, assume that Sweeten Company uses a plantwide predetermined overhead rate with machine-hours as the allocation base, for questions, 915, assume that the company uses predetermined departmental overhead rates with machine-hours as the allocation base in both departments. 1. What is the company's plantwide predetermined overhead rate? Note: Round your onswer to 2 decimal places