Norwall Company's variable manufacturing overhead should be $1.45 per standard machine-hour and its fixed manufacturing overhead should be $48,608 per month. The following information is available for a recent month: a. The denominator activity of 17,360 machine-hours is used to compute the predetermined overhead rate. b. At the 17,360 standard machine-hours level of activity, the company should produce 6,200 units of product. c. The company's actual operating results were: Number of units produced Actual machine-hours Actual variable manufacturing overhead cost Actual fixed manufacturing overhead cost 7,210 18,580 $ 25,083 $ 51,300 Required 1. Compute the predetermined overhead rate and break it down into variable and fixed cost elements. Round your answers to 2 decimal places.) Predetermined overhead rate Variable element Fixed element per MH per MH per MH