Crane Corporation allocates overhead based on direct labor cost. Assume Crane expects to incur a total of $1039500 in overhead costs and $825000 in direct labor costs. Actual overhead costs incurred totaled $1050000 and actual direct labor costs totaled $810000. Crane's predetermined overhead rate is closest to 100% of direct labor cost. 126% of direct labor cost. 128% of direct labor cost. 99% of direct labor cost