Jackson Inc. listed the following data for 2019: Budgeted factory overhead Budgeted direct labor hours Budgeted machine hours Actual factory overhead Actual direct labor hours Actual machine hours $1,215,000 75,000 40,500 1,201,700 87,000 40,100 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 $30.00 per machine hour. $30.29 per machine hour. $36.54 per machine hour. $31.58 per machine hour. $30.39 per machine hour