In December 2022,XYZ Corp established its predetermined overhead rate for jobs produced during 2023 by using the following cost predictions: overhead costs, $450,000, and direct labor costs, $375,000. XYZ Corp determined that its overhead costs are driven by direct labor costs. At year-end 2023, the company's records show that actual overhead costs for the year are $550,000. Actual direct labor costs for 2023 were $400,000. XYZ Corp's predetermined overhead rate for 2023 is a. 72.7% of direct labor costs b. 83.3% of direct labor costs c. 120% of direct labor costs d. 137.5% of direct labor costs