Jackson Inc. listed the following data for 2019: 7 Budgeted factory overhead Budgeted direct labor hours Budgeted machine hours Actual factory overhead Actual direct labor hours Actual machine hours $1,256, 000 80,000 40,000 1,201,200 86,500 39,600 Assuming Jackson Inc. applied overhead based on machine hours, the firm's predetermined overhead rate for 2019 (round calculations to 2 significant digits) is Multiple Choice $37.98 per machine hour $32.95 per machine hour $31.70 per machine hour. $28.33 per machine hour 31.40 per machine hour