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Tompkins Ltd. estimates that annual manufacturing overhead costs will be $62,000. Estimated annual operating activity bases are direct labor cost $40,000, direct labor hours 4,303,

Tompkins Ltd. estimates that annual manufacturing overhead costs will be $62,000. Estimated annual operating activity bases are direct labor cost $40,000, direct labor hours 4,303, and machine hours 10,000. Determine Overhead rate per direct labor hour. (Round answers to 2 decimal places, e.g. 10.50.)

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