Complete this question by entering your answers in the tabs below. Req 1 Req 2 Req 3 Req 4 COGM Req 4 COGS Compute the firm's predetermined factory overhead rate for the year. Note: Round your answer to 2 decimal places. Predetermined overhead rate per direct labor hour < Req 1 Req 5 Req 2 > Req 6

Dream Makers is a small manufacturer of gold and platinum jewelry. It uses a job costing system that applies overhead on the basis of direct labor hours. Budgeted factory overhead for the year was $465,800, and management budgeted 34,000 direct labor-hours. The company had no Materials, Work-in-Process, or Finished Goods Inventory at the beginning of April. These transactions were recorded during April:

1. April insurance cost for the manufacturing property and equipment was $1,850. The premium had been paid in January.
2. Recorded $1,060 depreciation on an administrative asset.
3. Purchased 21 pounds of high-grade polishing materials at $16 per pound (indirect materials).
4. Paid factory utility bill, $6,550, in cash.
5. Incurred 4,000 hours and paid payroll costs of $160,000. Of this amount, 1,000 hours and $20,000 were indirect labor costs.
6. Incurred and paid other factory overhead costs, $6,300.
7. Purchased $25,000 of materials. Direct materials included unpolished semiprecious stones and gold. Indirect materials included supplies and polishing materials.
8. Requisitioned $19,000 of direct materials and $1,700 of indirect materials from Materials Inventory.
9. Incurred miscellaneous selling and administrative expenses, $5,800.
10. Incurred $3,610 depreciation on manufacturing equipment for April.
11. Paid advertising expenses in cash, $2,725.
12. Applied factory overhead to production on the basis of direct labor hours.
13. Completed goods costing $64,500 during the month.
14. Made sales on account in April, $58,620. The Cost of Goods Sold was $48,700.