a company estimates that overhead costs for the next year will be $8,440,000 for indirect labor and $161,500 for factory utilities.

A company estimates that overhead costs for the next year will be $8,440,000 for indirect labor and $161,500 for factory utilities. The company uses machine hours as its overheod allocation base. If 460,000 machine hours are planned for this next year, what is the company's plantwide overhead rate? (Round your answer to two decimal places.) Multiple Choice $0.05 per machine hour. $1870 per machine hour. \$18.35 per machine hour $0.35 per machine hour $2.85 per machine hour