12 Capri Boat Corporation uses a job order cost system and applies overhead based on a percentage of direct labor cost. Cost flows through the Work in Process Inventory account during March are given below: Work in Process Debit Credit 8 01:20:19 Beginning Balance Transferred Out 213, 400 Direct Materials 72,000 Direct Labor 102, 000 Overhead 122, 400 Ending Balance 83, 000 Only Job #007 was still in process at the end of March and this job had been charged with $17,000 in direct materials cost. The predetermined overhead application rate at Capri Boat is what percentage of direct labor costs? Multiple Choice O 83% O 240% O 120%Multiple Choice O 83% O 240% O 120% O 68%