Sheridan Company manufactures custom-order furniture. During 2020, actual manufacturing overhead totaled $718000. Based on the 2020 results, and projected production for 2021, management prepared the 2021 budget and estimated that manufacturing overhead would total $1374800. The estimated number of direct labor hours for 2021 is 49100, and the estimated amount of direct labor cost is $1080000. The company plans to use direct labor hours as the basis to allocate overhead to jobs. During May and June 2021, employees worked on the following four jobs: Monthly data Job X43 Job X87 Job Z22 Job A33 May Direct materials $86600 $71000 $43800 $38700 Direct labor cost $101900 $92300 $77100 $52700 Direct labor hours 5020 4500 3890 2590 June Direct materials $25000 $40600 $34300 $24900 Direct labor cost $28700 $52300 $62700 $32800 Direct labor hours 1500 2500 3200 1610 What is the predetermined overhead rate that Sheridan will use to allocate overhead during 2021? $28.00 per direct labor hour $7.31 per direct labor hour $14.62 per direct labor hour O $14.00 per direct labor hour