In December 2010, Kent Computer's management establishes the year 2011 predetermined overhead rate based on direct labor cost. The information used in setting this rate includes estimates that the company will incur $756,000 of overhead costs and $540,000 of direct labor cost in year 2011. During March 2011, Kent began and completed Job No. 13-56.
1. What is the predetermined overhead rate for year 2011? (Omit the "%" sign in your response.)
2. Use the information on the following job cost sheet.