Metalica Company applies overhead based on machine hours. At the beginning of 20x1, the company estimated that manufacturing overhead would be $456,000, and machine hours would total 19,000. By 20x1 year-end, actual overhead totaled $504,000, and actual machine hours were 24,000. On the basis of this information, the 20x1 predetermined overhead rate was: Multiple Choice $0.04 per machine hour $0.05 per machine hour. $19 per machine hour $21 per machine hour. $24 per machine hour