Required information The Foundational 15 (Algo) (LO7-1, LO7-3, LO7-4) [The following information applies to the questions displayed below.) Hickory Company manufactures two products14,000 units of Product Y and 6,000 units of Product Z. The company uses a plantwide overhead rate based on direct labor-hours. It is considering implementing an activity-based costing (ABC) system that allocates all $705,600 of its manufacturing overhead to four cost pools. The following additional information is available for the company as a whole and for Products Y and Z: Activity Cost Pool Machining Activity Measure Machine-hours Number of Estimated Overhead Cost Expected Activity $ 192,000 10,000 MHS $ 50,400 120 setups Machine setups setups $ 76,000 2 products Number of Product design products General Direct labor- factory hours $ 387,200 12,000 DLHS Product Product Y Z 6,200 3,800 50 70 Activity Measure Machine-hours Number of setups Number of products Direct labor- hours 1 1 10,000 2,000 Foundational 7-1 (Algo) Required: 1. What is the company's plantwide overhead rate? (Round your answer to 2 decimal places.) Plantwide overhead rate per DLH