Need help finding the predetermined overhead rate for the quarter 4.18 is not the correct answer

Waterways Corporation is preparing its budget for the comingyear, 2022. The first step is to plan for the first quarter of that coming year. The company has gathered information from its managers in preparation of the budgetins process. Wuterwapi inkes to keep 10% of the neat mocittis unit sales in enaling inventary. All saies are on account, B5) of the Accounts Recnivable are callected in the monthof ale, and 15% of the Accoints Receivable are collected in the inonth after sale. Accoiniti fecelvabie on December a1,2021, totaled $181,1000. Receivable are collected in the month of sale, and 15% of the Accounts Receivable are collected in the month after sale. Accounts receivable on December 31,2021 , totaled $181,800. Direct Materials Direct materials cost 80 cents per pound. Two pounds of direct materials are required to produce each unit. Waterways likes to keep 5% of the materials needed for the next month in its ending inventory. Raw Materials on December 31,2021 totaled 11,220 pounds. Payment for materials is made within 15 days. 50% is paid in the mont of purchase, and 50% is paid in the month after purchase. Accounts Payable on December 31, 2021, totaled $120.595. Direct Labor Labor requires 12 minutes per unit for completion and is paid at a rate of $9 per hour. Selling and Administrative Variable selling and administrative cost per unit is $1.60. Other information The Cash balance on December 31, 2021, totaled $100,000, but management has decided it would like to maintain a cash balance of at least $700,000 beginning on January 31, 2022. Dividends are paid each month at the rate of $2.50 per share for 4.720 shares outstanding. The company has an open line of credit with Romney's Bank. The terms of the agreement requires borrowing to be in $1.000 increments at 976 inter est. Waterways borrows on the first day of the month and repays on the last day of the month. A $540.000 equipment purchase is planned for fabruary. January February Variable Costs Indirect Materials Utillties Total Variable Costs Fiond Costs Ineuranich Malntenance \begin{tabular}{|r|r|} \hline 17400 \\ \hline \end{tabular} \begin{tabular}{|l|} \hline 1300 \\ \hline \end{tabular} Property Tinets salaries Total Fiond coots Total Manutacturles Cwerhead. Direct Labor Hours Fredetsimined overhead rate foe the qaiter