At the turn of the 20th century, piecework pay was the typical organizational reward system. if an organization with a bunch of bricklayers typically laid bricks at the rate of 100 bricks an hour, but someone new begins work and lays bricks at the rate of 200 bricks and hour, the manager might conclude everyone should be laying bricks at this rate and or lower the pay per brick laid.

Harris fabrics computes its predetermined overhead rate annually on the basis of direct labor-hours. at the beginning of the year, it estimated that 34,000 direct labor-hours would be required for the period’s estimated level of production. the company also estimated $599,000 of fixed manufacturing overhead expenses for the coming period and variable manufacturing overhead of $3.00 per direct labor-hour. harris's actual manufacturing overhead for the year was $768,234 and its actual total direct labor was 34,500 hours.required: compute the company's predetermined overhead rate for the year. (round your answer to 2 decimal places.)