William Limited is a manufacturing business that makes products to order for the golf industry. It operates a factory-wide overhead allocation policy on the basis of direct labour cost. The budgeted overheads for 2023 are 852346. The budgeted machine hours are 100,000. The budgeted direct labour hours are 15,000 with an expected cost of 112978 The company expects to sell goods with a value of 2.5m What is the overhead allocation rate for William Limited for 20237 Give your answer to 2 decimal places