4. Tarrant Company estimates that it will require 60,000 direct labor hours to meet the coming period's estimated production level. In addition, the company estimates total fixed manufacturing overhead at $120,000, and variable manufacturing overhead costs of $3 per direct labor hour. Actual overhead for the year was $363,000, and actual labor hours were 66,000. What is the predetermined overhead rate? (1 Point) $5.50 $5.00 $2.00 O $3.00