Take me to the text A manufacturing firm uses a predetermined manufacturing overhead rate to allocate overhead to individual jobs, based on machine hours required. At the beginning of 2019, the firm expected to incur the following: Budgeted Manufacturing Overhead Costs $1,120,000 Budgeted Direct Labor Cost $1,075,000 Budgeted Machine Hours 80,000 At the end of 2019, the firm had actually incurred: Direct Labor Cost $1,285,000 Depreciation on Manufacturing Property, Plant and Equipment $650,000 Sales Salaries $50,000 Delivery Drivers' Wages $30,000 Plant Janitors' Wages $20,000 70,000 Machine Hours Do not enter dollar signs or commas in the input boxes. a) Calculate the firm's predetermined overhead rate. Round your answer to 2 decimal places. Predetermined overhead rate: $