Budgeted sales revenue Actual manufacturing overhead Budgeted machine hours (based on practical capacity) Budgeted direct-labor hours (based on practical capacity) Budgeted direct-labor rate Budgeted manufacturing overhead Actual machine hours Actual direct-labor hours Actual direct-labor rate $200,000 340,000 10,000 20,000 $ 13 $364,000 11,000 es $ 18,000 15 Required: 1. Compute the firm's predetermined overhead rate for the year using each of the following common cost drivers: (a) machine hours, (b) direct-labor hours, and (c) direct-labor dollars. (Round your answers to 2 decimal place.) Answer is complete and correct. Cost Drivers Overhead Rate (a) Machine hours $ 36.40 per machine hour Direct-labor (b) $ 18.20 per direct-labor hours hour Direct-labor (c) $ 1.40 dollars per direct-labor dollar