Wildhorse Company produces one product, a putter called GO$-$Putter. Wildhorse uses a standard cost system and determines that it should take one hour of direct labor to produce one GO$-$Putter. The normal production capacity for this putter is $130,000$ units per year. The total budgeted overhead at normal capacity is $$1,170,000$ comprised of $$520,000$ of variable costs and $$650,000$ of fixed costs. Wildhorse applies overhead on the basis of direct labor hours.

During the current year, Wildhorse produced $86,200$ putters, worked $85,800$ direct labor hours, and incurred variable overhead costs of $$232,740$ and fixed overhead costs of $$570,800.$

$($a$)$

Compute the predetermined variable overhead rate and the predetermined fixed overhead rate. $($Round answers to $2$ decimal places, e$.$g$.2\mathrm{.}75.)$

Variable

Fixed

Predetermined Overhead Rate

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