Hickory Company manufactures two products units of Product and units of Product The company uses a plantwide overhead rate based on direct laborhours. It is considering implementing an activitybased costing system that allocates all $ of its manufacturing overhead to four cost pools. The following additional information is available for the company as a whole and for Products and :
tableEstimated Overhead,Activity Cost Pool,Activity Measure,Cost,Expected ActivityMachiningMachinehours,$ MHsMachine setups,Number of setups,$ setupsProduct design,Number of products,$ productsGeneral factory,Direct laborhours,$ DLHs
tableActivity Measure,Product YProduct ZMachinehours,Number of setups,Number of products,Direct laborhours,
Required:
What is the company's plantwide overhead rate?
Note: Round your answer to decimal places.