AppleCo estimates that it will require 150,000 direct labor-hours to meet the coming period's estimated production level. In addition, the company estimates total fixed manufacturing overhead at $300,000, and variable manufacturing overhead costs of $3 per direct labor-hour. Calculate the predetermined overhead rate. $1 per direct labor-hour $1.5 per direct labor-hour $2 per direct labor-hour $5 per direct labor-hour