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: 75,000 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: 435,000 Actual manufacturing overhead: Depreciation Property taxes Indirect labor Supervisory salaries Utilities Insurance Rental of space Indirect material (see data below) $232,000 20,000 81,000 201,000 59,000 31,000 301,000 77,000 Indirect material: Beginning inventory, January 1 Purchases during the year Ending inventory, December 31 47,000 94,000 64,000 Required: 1. Compute the firm's predetermined overhead rate, which is based on direct-labor hours. (Round your answer to 2 decimal places.) Predetermined overhead per DLH te