Question 7 (1 point) Picnic Table Company estimates the following costs at the beginning of the year: Wood used to make the tables.. Assembly area air conditioning costs Table Assembler wages Table carpenter wages Advertising costs Accounting supervisor Insurance for assembly plant $1,000 $3,000 $4,000 $2,000 $400 $ 800 $1,000 If the company uses machine-hours to apply manufacturing overhead, and estimates that there will be 500 direct labor-hours and 1,000 machine-hours during the year. What is the the predetermined overhead rate? $4.00 $5.00 $11.00 $1,00