QUESTION 7 Modiste, Inc. manufactures two kinds of bags-totes and satchels. The company allocates manufacturing overhead using a single plantwide rate with direct labor cost as the allocation base. Estimated overhead costs for the year are $26,000. Additional estimated information is given below. Totes Satchels Direct materials cost per unit $32 $45 Direct labor cost per unit $55 $63 Number of units 510 390 Calculate the predetermined overhead allocation rate. (Round your answer to two decimal places.) O 49.41% O 94.50% O 92.69% O 1.58%