Assume a company started and completed numerous jobs during July-two of which were Job Y and Job Z The company uses two departmental predetermined overhead rates. The rate in the Machining Department is based on machine hours and the rate in the Assembly Department is based on direct labor-hours. The following additional information from the month of July is available for the company as a whole and for Jobs Y and Z Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Estimated variable manufacturing overhead per direct labor-hour Estimated total machine-hours to be used Estimated total direct labor hours to be worked Machining Assembly $ 48,000 $ 30,000 $ 1.50 $ 2.ee 12,000 10,000 Machining Assembly 50 Job Y Machine hours Direct Labor-hours Job 2 Machine-hours Direct labor-hours 30 48 68 What is the predetermined overhead rate in the Machining Department Machining Assembly 50 30 Job Y Machine-hours Direct labor-hours Job Z Machine-hours Direct labor-hours 40 60 What is the predetermined overhead rate in the Machining Department? Multiple Choice O $4.00 O $5.50 O $4.00 $5.50 O $5.00 $4.50