Ikerd Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are expected to total $280,896for the year, and machine usage is estimated at125,400hours.

For the year, $400,896of overhead costs are incurred and130,400hours are used.

Compute the manufacturing overhead rate for the year. (Round answer to 2 decimal places, e.g. 1.52.)

What are Manufacturing overhead rate$ per machine hour