ABC Company listed the following data for the current year Budgeted factory overhead Budgeted direct labor hours Budgeted machine hours Actual factory overhead Actual labor hours Actual machine hours $1,169,000 70,000 25,000 1, 130, 100 70, 500 23,500 Assuming ABC Company applied overhead based on direct labor hours, the company's predetermined overhead rate for the year is: Multiple Choice 0 $48.09 per direct labor hour $17.20 per direct labor hour, O $16.70 per direct labor hour O $16.03 per direct labor hout $15.70 per direct labor hour