The following budget data pertain to the Machining Department of Yolkenverst Co: Maximum capacity Machine hours per unit Variable factory overhead Fixed factory overhead 56,000 units 2.50 $ 2.90 per machine hour $435, 100 The company prepared the budget at 95% of the maximum capacity level. The department uses machine hours as the basis for applying standard factory overhead costs to production (outputs). The standard fixed overhead application rate for the Machining Department (to two decimal places) is Multiple Choice $8.37 per machine hour $3.95 per machine hour 52.76 per machine hour 53.34 per machine hour $3.27 per machine hour