Conner Corporation allocates factory overhead using a single plantwide overhead rate based on machine hours. At the beginning of the year, the company expects to incur $52,000 of overhead costs for 1,000 machine hours. Machine hours for Product K production total 450, while Product M requires 550 machine hours during the year. What is the plant wide factory overhead rate? Select one: O a. $25.50 per machine hour O b. $52.00 per machine hour O c. $45.00 per machine hour O d. $55.00 per machine hour