The following financial information is from cook company: accounts payable $55,000 land $90,000 inventory $10,500 accounts receivable $7,500 equipment $8,000 deferred revenue $58,500 short-term investments $20,000 notes receivable (due in 8 months) $45,500 interest payable $2,000 patents $75,000what is the total amount of property, plant, and equipment assuming the accounts above reflect normal activity?

Harris fabrics computes its predetermined overhead rate annually on the basis of direct labor-hours. at the beginning of the year, it estimated that 34,000 direct labor-hours would be required for the period’s estimated level of production. the company also estimated $599,000 of fixed manufacturing overhead expenses for the coming period and variable manufacturing overhead of $3.00 per direct labor-hour. harris's actual manufacturing overhead for the year was $768,234 and its actual total direct labor was 34,500 hours. required: compute the company's predetermined overhead rate for the year. (round your answer to 2 decimal places.)