(12 marks) Halloween Outfitters has provided the following information: Estimated costs for the upcoming fiscal year: Direct materials Direct labour Rent on factory building Sales salaries Depreciation on factory equipment Other costs incurred in operating the factory Production supervisor's salary 45000 8000 8000 $35,000 23,000 45,000 13,000 8,000 32,000 8,000 The company estimates that 15,000 labour hours will be worked and 30,000 machine hours incurred during the year. Required: A) If overhead is applied on the basis of machine hours, calculate the predetermined overhead rate being used this fiscal year. Show all required calculations, presented neatly.