Crestfield leases office space for $6,000 per month. on january 3, the company incurs $33,000 to improve the leased office space. these improvements are expected to yield benefits for 20 years. crestfield has 10 years remaining on its lease. what journal entry would be needed to record the expense for the first year related to the improvements?

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.)