ABC Inc. computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 25,000 direct labor hours would be required for...

ABC Inc. computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 25,000 direct labor hours would be required for the period's estimated level of production. The company also estimated $520,000 of fixed manufacturing cost for the coming period and variable manufacturing overhead of $4 per direct labor-hour. ABC's actual manufacturing overhead cost for the year was $671,925 and its actual total direct labor was 25,500 hours.

Compute the company's plantwidew predetermined overhead rate for the year.