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Wildhorse Company uses a job order cost system and applies overhead to production on the basis of direct labor costs, On January 1. 2022, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $24,400. direct labor $14,640, and manufacturing overhead $19,520. As of January 1, Job 49 had been completed at a cost of $109,800 and was part of finished goods inventory. There was a $18,300 balance in the Raw Materials inventory account on January 1. During the month of January. Wildhorse Company began production on Jobs 51 and 52 , and completed Jobs 50 and 51 . Jobs 49 and 50 were sold on account during the month for $148,840 and $192,760, respectively. The following additional events occurred during the month: 1. Purchased additional raw materials of $109,800 on account. 2. Incurred factory labor costs of 585,400 . 3. Incurred manufacturing overhead costs as follows: depreciation expense on equipment $14,640; and various other manulacturing overhead costs on account $19,520. 4. Assigned direct materials and direct labor to jobs as follows. 5. Assigned indirect materials of $20,740 and indirect labor of $24,400. Calculate the predetermined overhead rate for 2022 , assuming Wildhorse Company estimates total manufacturing overhead conts of $2,024,800, direct labor costs of $954,000, and direct babor hours of 24,400 for the year. Predetermined everhesi rate eTextbook and Media List of Accounts Attempts: 1 of 2 used (c) The garts of this queition must be completed ingonder, Fils part wall be avalabie when you complete the gaft above