TB Problem Qu$.2-223($Algo$)$ Henkes Corporation bases...

Henkes 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 $61,000$ labor$-$hours. The estimated variable manufacturing

overhead was $$11\mathrm{.}00$ per labor$-$hour and the estimated total fixed manufacturing overhead was

$$1,159,000.$ The actual labor$-$hours for the year turned out to be $64,600$ labor$-$hours.

Required:

Compute the company's predetermined overhead rate for the recently completed year. $($Round your

answer to $2$ decimal places.$)$