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Bonita Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1 , 2027 , Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $21,200, direct labor $12,720, and manufacturing overhead $16,960. As of January 1 , Job 49 had been completed at a cost of $95,400 and was part of finished goods inventory. There was a $15,900 balance in the Raw Materials Inventory account. During the month of January, Bonita Company began production on Jobs 51 and 52 , and completed Jobs 50 and 51 . Jobs 49 and 50 were sold during the month. The following additional events occurred during the month. 1. Purchased additional raw materials of $95,400 on account. 2. Incurred factory labor costs of $74,200. 3. Incurred manufacturing overhead costs as follows: indirect materials $18,020; indirect labor $21,200; depreciation expense on equipment $12,720; and various other manufacturing overhead costs on account $16,960. 4. Assigned direct materials and direct labor to jobs as follows. Calculate the predetermined overhead rate for 2027, assuming Bonita Company estimates total manufacturing overhead costs of $890,400, direct labor costs of $742,000, and direct labor hours of 21,200 for the year. (Round answer to the nearest whole percent, es. 25%.) Predetermined overhead rate

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