Products uses a job-costing system with two direct-cost categories (direct materials and direct manufacturing labor) and one manufacturing overhead cost pool. Davey allocates manufacturing overhead costs using direct manufacturing labor costs.

Davey provides the following information:

irect material costs

$2,000,000

$1,925,000

Direct manufacturing labor costs

1,800,000

1,720,000

Manufacturing overhead costs

3,420,000

3,526,000..

Requirement 1. Compute the actual and budgeted manufacturing overhead rates for

2017

.

(Enter your answer as a number

[not

as a percentage] rounded to two decimal places, X.XX.)

Actual manufacturing overhead rate

=

Budgeted manufacturing overhead rate

=