Sun Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning of the most recently completed year, the company estimated the labor hours for the upcoming year at 32,000 labor-hours. The estimated variable manufacturing overhead was 57.17 per labor hour and the estimated total fixed manufacturing overhead was $584,320. The actual labor-hours for the year turned out to be 33,300 labor-hours Required: Compute the company's predetermined overhead rate for the recently completed year