TB Problem Qu. 2-223 (Static) Henkes Corporation bases... Herkes 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 66,000 labor hours. The estimated variable manufacturing overhead was $8 41 per labor hour and the estimated total feed manufacturing overhead was $1533180 The actual labor hours for the year turned out to be 68,400 labor hours Required Compute the company's predetermined overhead rate for the recently completed year