Phyllo Computer Company uses a job order costing system in which each batch manufactured is a different job. Phyllo Computer Company assigns direct materials and direct labor to each job. The company assigns labor costs at $22 per hour. It allocates manufacturing overhead to jobs based on a predetermined overhea allocation rate, computed as a percentage of direct labor costs. At the beginning of 2024, the controller prepared the following budget: (Click the icon to view the budget.) In November 2024, Phyllo Computer Company worked on several jobs. Records for two jobs appear here: (Click the icon to view the records for the two jobs.) Read the requirements. Requirement 1. Compute Phyllo Computer Company's predetermined overhead (OH) allocation rate for 2024. = Predetermined OH allocation rate Data table - X Data table Job 721 Job 722 Manufacturing overhead Direct labor costs $ 470,000 $ 940,000 Direct labor hours Direct materials $ 800 hours 20,200 $ 30 hours 2,800 Print Done Print Done