Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor hours. At the beginning of the year, it was estimated that 32,000 direct labor hours would be required for the period's estimated level of production. The company also estimated $544,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $4 per direct labor hour. Harris's actual manufacturing overhead cost for the year was $737,750 and its actual total direct labor was 32,500 hours.
Compute the company's plantwide predetermined overhead rate for the year.?