value. 700 points Luzadis company makes furniture using the latest automated technology. The company uses a job-order costing system and applies manufacturing overhead products on the basis The following predetermined of machine-hours. estimates were used in preparing the overhead rate at the beginning of the year: Machine-hours 81,000 Fixed manufacturing overhead cost $1,276,000 Variable manufacturing overhead per computer-hour 3.30 During the year, a glut of furniture on the market resulted in cutting back production and a buildup of furniture in the company's warehouse. The company's cost records revealed the following actual cost and operating data for the year: 50,000 Machine-hours Manufacturing overhead cost $1,019,000 Required: 1. Compute the company's predetermined overhead rate for the year. (Round your answer to 2 decimal places.) Predetermined overhead rate 19.05 per hour MGMT 3020-0001 Spr