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7) A company expected its annual overhead costs to be S1,500,000 and direct labor costs to be S1.000,000. Actual overhead was $1.450,000, and actual labor

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7) A company expected its annual overhead costs to be S1,500,000 and direct labor costs to be S1.000,000. Actual overhead was $1.450,000, and actual labor costs totaled $1,100,000. How much is the company's predetermined overhead rate to the nearest cent? a. $1.45 b. $1.30 c. $1.50 d. $1.37

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