Oriole Corporation allocates overhead based on direct labor cost. Assume Oriole expects to incur a total of $$1002000$ in

overhead costs and $$835000$ in direct labor costs. Actual overhead costs incurred totaled $$1052000$ and actual direct labor

costs totaled $$804300.$ Oriole's predetermined overhead rate is closest to

$100\%$ of direct labor cost.

$120\%$ of direct labor cost.

$125\%$ of direct labor cost.

$95\%$ of direct labor cost.