At the beginning of the year, Concord Corporation estimates annual overhead costs to be $2400000 and that 400000 machine hours will be operated. Using machine hours as a base, the amount of overhead applied during the year if actual machine hours for the year was 175000 hours is O $2400000. O $5485714. O $1680000. O $1050000. If annual overhead costs are expected to be $716000 and direct labor costs are expected to be $1000000, then if the activity base is direct labor costs: O for every dollar of direct labor, 71.6 cents of manufacturing overhead will be assigned. O a predetermined overhead rate cannot be determined. O for every dollar of manufacturing overhead. 1.40 cents of direct labor will be assigned. $1.40 is the predetermined overhead rate