Required information The following information applies to the questions displayed below The following information pertains to Trenton Glass Works for the year just ended. Budgeted direct-labor cost: 70,000 hours (practical capacity) at $16 per hour Actual direct-labor cost: 80,000 hours at $17.50 per hour Budgeted manufacturing overhead: $997,500 Actual selling and administrative expenses: 433,000 Actual manufacturing overhead Depreciation Property taxes Indirect labor Supervisory salaries Utilities Insurance Rental of space Indirect material (see data below) $231,e00 21,ee0 83,ee0 201,e00 58,000 32,000 303,000 81,ee0 Indirect material Beginning inventory, January 1 Purchases during the year Ending inventory, December 31 49,000 94,000 62,000 https% 3A%2F chapter 3 assignments 0 Help Seve & Exit Submi 5 Required information Rental of space tndirect naterial (see data below) Pert 1 ol 3 Indirect saterial Beginning inventory, 3anuary 1 Purchases during the year Ending inventory, Decenber 33 94,800 62,ee0 1. Compute the firm's predetermined overhead rate, which is based on direct-laboe hours (Round your answer to 2 decimal places.) Prey : 5 6-7.of 10 5 6 7 8 2 3 R TY U W E