The following information pertains to Trenton Glass Works for the year just ended. Budgeted direct-labor cost: 75,000 hours (practical capacity) at $16 per hour Actual direct-labor cost: 80,000 hours at $17.50 per hour Budgeted manufacturing overhead: $997,500 Actual selling and administrative expenses: 437,000

Actual manufacturing overhead:
Depreciation	$	231,000
Property taxes		22,000
Indirect labor		83,000
Supervisory salaries		200,000
Utilities		58,000
Insurance		30,000
Rental of space		301,000
Indirect material (see data below)		78,000
Indirect material:
Beginning inventory, January 1		48,000
Purchases during the year		93,000
Ending inventory, December 31		63,000

Exercise 3-34 Part 1

Required: 1. Compute the firms predetermined overhead rate, which is based on direct-labor hours. (Round your answer to 2 decimal places.)

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