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Schneider, Inc., had the following information related to Year 1: Budgeted Factory Overhead: $74,800 Actual Factory Overhead: $78,300 Factory overhead applied: $76,500 Estimated direct labor

Schneider, Inc., had the following information related to Year 1:

Budgeted Factory Overhead: $74,800

Actual Factory Overhead: $78,300

Factory overhead applied: $76,500

Estimated direct labor hours: 44,000 Actual direct labor hours: ?

Required

If Schneider decides to use the actual results from year 1 to determine the overhead rate for year 2, what is the overhead rate for year 2?

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