Kate was responsible for hiring a fireworks company to put on a show at the end of the local college team’s homecoming game. When a student was hurt from a falling firework, his parents sued. Kate then discovered that the fireworks’ company’s insurance coverage had lapsed. What type of risk led to this complication? risk hampered Kate’s decision.

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.)