...... is a bakery that is known for its strawberry cheesecake. It also makes 12 different kinds of cheesecake as well as many other types of bakery items. The company uses normal costing with direct-labor dollars as their base for allocating overhead to its various bakery products. The company estimates overhead for the upcoming year of $421,000 and estimates direct labor of $2,000,000. The following estimated information is available for their Strawberry Cheesecake product: Required: Annual production 17,500 units Direct materials per $6 unit Direct labor per unit $2 1) Compute the predetermined rate (overhead per dollar of labor) - Round this to TWO decimal places