Sweeten Company had no jobs in progress at the beginning of the year and no beginning inventories. It started, completed, and sold only two jobs during the yearJob P and Job Q. The company uses a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, it estimated that 4,000 machine-hours would be required for the periods estimated level of production. Sweeten also estimated $30,600 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $3.10 per machine-hour. Because Sweeten has two manufacturing departmentsMolding and Fabricationit is considering replacing its plantwide overhead rate with departmental rates that would also be based on machine-hours. The company gathered the following additional information to enable calculating departmental overhead rates: Molding Fabrication Total Estimated total machine-hours used 2,500 1,500 4,000 Estimated total fixed manufacturing overhead $ 13,500 $ 17,100 $ 30,600 Estimated variable manufacturing overhead per machine-hour $ 2.80 $ 3.60 The direct materials cost, direct labor cost, and machine-hours used for Jobs P and Q are as follows: Job P Job Q Direct materials $ 27,000 $ 15,000 Direct labor cost $ 32,200 $ 13,100 Actual machine-hours used: Molding 3,100 2,200 Fabrication 2,000 2,300 Total 5,100 4,500 Sweeten Company had no overapplied or underapplied manufacturing overhead costs during the year. Required: For questions 1-8, assume that Sweeten Company uses a plantwide predetermined overhead rate with machine-hours as the allocation base. For questions, 9-15, assume that the company uses predetermined departmental overhead rates with machine-hours as the allocation base in both departments. 1. What is the companys plantwide predetermined overhead rate? Note: Round your answer to 2 decimal places