Accounting

Duggan Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are expected to total $340,200 for the year, and machine usage is estimated at 126,000 hours.

For the year, $358,803 of overhead costs are incurred and 131,300 hours are used.

Compute the manufacturing overhead rate for the year. (Round answers to 2 decimal places, e.g. 1.25.)

Manufacturing overhead rate

$[removed]

per machine hour