2 Advertising expense ABC Company had the following estimated costs for 2022: Direct materials Direct labor Rent on factory building $28,000 $22,000 $15,000 $13,000 Depreciation on factory equipment $11,000 Indirect materials $10,000 Sales commissions $28,000 Production supervisor's salary $40,000 Insurance on factory equipment $15,000 ABC Company estimates that 25,000 machine hours will by used during 2022. Calculate ABC Company's 2022 pre-determined overhead rate based on machine hours. 6 pts