Parker Company uses a job-order costing system and Parker chooses to use the normal costing method to compute the total cost of all the jobs. It allocates manufacturing overhead to jobs using a budgeted manufacturing overhead rate based on direct manufacturing labor costs. Last year manufacturing overhead and direct manufacturing labor costs were estimated at $1,800,000 and $1,500,000, respectively, for the year. In June, Job #461 was completed. Materials costs on the job totaled $14,000 and labor costs totaled $16,500 at $50 per hour. At the end of the year, it was determined that the actual direct manufacturing cost and the actual manufacturing overhead cost were $ 1,550,000 and $ 1,900,000. labor Required: a. Determine the budgeted manufacturing overhead rate for the current vear