Hey, I can't figure out how to calculate overhead rates when overhead is not givin. Here is my Question:
X Company has the following estimated costs for the year:

Direct materials $58,400
Factory supplies $20,200
Direct labor $23,800
Indirect labor $28,200
Selling and Administration $42,000
Factory rent $42,000
Factory insurance $61,000

X Company estimates that 1,400 direct labor hours will be worked during the year, and machines will be operated for 64,000 hours during the year. If overhead is applied on the basis of direct labor cost, what will the overhead rate be (rounded to the nearest cent)?


I used the equation Total Cost= Direct Materials+direct labor+OH to solve for OH. To do this I added up all the numbers and subtracted DL and DM. Then I divided the OH by the cost driver which I thought was 1400, because that is the direct labor hours.

If someone could please help me out with an equation or show me how to find OHR when OH is not given, I would really appreciate it.
Thanks,
Eric