The following information for the past year is available from Gas Company, a company that uses machine hours to apply standard factory overhead cost to outputs:

Actual total factory overhead cost incurred

Actual fixed overhead cost incurred

Budgeted fixed overhead cost

Actual machine hours

Standard machine hours allowed for the units manufactured

Denominator volume$-$machine hours

Standard variable overhead rate per machine hour

The standard fixed overhead application rate is:

Multiple Choice

$$1\mathrm{.}00$ per machine hour.

$$3\mathrm{.}00$ per machine hour.

$$200$ per machine hour.

$$5\mathrm{.}00$ per machine hour.

$$4\mathrm{.}00$ per machine hour.