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Schneider, Inc., had the following information relating to Year 1: Budgeted factory overhead: $74,800 Actual factory overhead: $78,300 Applied factory overhead: $76,500 Estimated direct labor

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

Budgeted factory overhead: $74,800

Actual factory overhead: $78,300

Applied factory overhead: $76,500

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

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

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