1 Part 1 of 5 2 points Book Required information [The following information applies to the questions displayed below.) Midnight Sun Apparel Company uses normal costing, and manufacturing overhead is applied to work-in-process on the basis of machine hours. On January 1 of the current year, there were no balances in work-in-process or finished-goods Inventories. The following estimates were included in the current year's budget. Total budgeted manufacturing overhead Total budgeted nachine houre $ 235,000 47,000 During January, the firm began the following production jobs: A79: 1,000 machine hours Print NO8: 2,500 machine hours P82: 500 machine hours During January, job numbers A79 and N08 were completed, and job number A79 was sold. The actual manufacturing overhead incurred during January was $26,000. Required: 1. Compute the company's predetermined overhead rate for the current year. Predetermined overhead rate per machine hour