Lane Company manufactures a single product that requires a great deal of hand labor. Overhead cost is applied on the basis of standard direct labor-hours. Variable manufacturing overhead should be $6.00 per standard direct labor-hour and fixed manufacturing overhead should be $3,300,000 per year. The company's product requires 4 pounds of material that has a standard cost of $13.00 per pound and 1.5 hours of direct labor time that has a standard rate of $14.00 per hour The company planned to operate at a denominator activity level of 330,000 direct labor-hours and to produce 220,000 units of product during the most recent year. Actual activity and costs for the year were as follows: 264,000 429,000 Number of units produced Actual direct labor-hours worked Actual variable manufacturing overhead cost incurred1,458,600 Actual fixed manufacturing overhead cost incurred $ 3,432,000 Required 1. Compute the predetermined overhead rate for the year. Break the rate down into variable and fixed elements. (Round your answers to 2 decimal places.) Predetermined overhead per DLH per DLH per DLH Variable rate Fixed rate