Milford Company has decided that direct labor hours is a good bssis on which to apply overhead to production. The following data are for the most recent yeat. - Budgeted number of direct labor hours worked =20,000 hours - Budgeted amount of manufacturing overhead =$100,000 - Actual number of direct labor hours worked =25,000 hours - Actual amount of manufacturing ovethead =$115,000 What is Milford Company's PREDETERMINED OVERHEAD RATE? $5.00 per hour $5.75 per hour $4.00 per hour $4.60 per hour