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Waterway Company uses a standard cost accounting system. In 2022, the company produced28, 500units. Each...

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Accounting

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Waterway Company uses a standard cost accounting system. In 2022, the company produced28, 500units. Each unit took several pounds of direct materials and 1.6 standard hours of direct labor at a standard hourly rate of $11,00. Normal capacity was 49.800 direct labor hours. During the year, 131,700pounds of caw materials were purchased at 50.90 per pound. All materials purchased were used during the year. If total budgeted manufacturing overhead was $368,520 at normal capacity, what was the predetermined overhead rate based on direct labor hours? (Round answer to 2 decimal ploces, eg. 2.75.) Predetermined overhead rate

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