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 Fixed manufacturing overhead cost 100,000 $650,000 Variable manufacturing overhead cost per machine-hour $ 3.00 Required: 1. Compute the predetermined overhead rate. (Round your answer to 2 decimal places.) Predetermined overhead rate per MH