Moody Corporation uses a job-order costing system with a plantwide overhead rate based on machine- hours. At the beginning of the year, the company made the following estimates: Machine-hours required to support estimated production 157.000 652,000 Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour 4.30 Required 1. Compute the predetermined overhead rate. (Do not round intermediate calculations. Round your answer to 2 decimal places.) determined ove per MH