Sheridan Manufacturing is a small manufacturer that uses machine hours as its activity base for assigned overhead costs to jobs. The company estimated the following amounts for 2022 for the company and had actual results for Job 62: Direct materials Direct labor Manufacturing overhead costs Machine hours Company Job 62 $68,400 $5,300 $28,500 $3,700 $92,340 102,600 (a) During 2022, the actual machine hours totaled 108,300, and actual overhead costs were $80,600. 1,590 Compute the predetermined overhead rate. (Round answer to 2 decimal places, e.g. 52.75.) Predetermined overhead rate $ per machine hour