EXERCISE 6 NCS Company estimates overhead of P2,700,000 for the next year. An estimated of 300,000 units will be produced, with material costs of P6,000,000. Conversion will require an estimated 56,250 direct labor hours at a cost of P8 per hour, and estimated 75,000 machine hours. Compute predetermined overhead rate to be used in each of the following basis: 1 Unit of Production 2 Material Costs 3 Direct Labor Hours 4 Direct Labor Costs 5 Machine Hours