The following budget data are available for Happy Company: Estimated direct labor hours Estimated direct labor dollars Estimated factory overhead costs Actual direct labor hours Actual direct labor dollars Actual factory overhead costs 12,000 $90,000 $179,000 11,500 $92,000 $180,000 If factory overhead is to be applied based on direct labor dollars, the predetermined overhead rate is 199% 196% $14.92 $15.65