Jackson Company estimated that its manufacturing employees would work 80,000 direct labor hours during the current yeac. During the year, its manufacturing employees actually worked 75.000 direct labor hours. Actual manufacturing ovethead costs amounted to $344,000. Jackson applies overhead cost on the basis of direct labor hours. The manufacturing overhead account was overapplied by $16,000 duting the current year. Based on this information the predetermined overhead rate was: Muluple Choice $600 per labor hour $4.40 per labot thour \$4. 89 per lobor hour $4.80 per labor houl