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: The standard fixed overhead application rate, to two (2) decimal places, is: Multiple Choice $4.78 per machine hour. $1.78 per machine hour. Multiple Choice $4.78 per machine hour. $1.78 per machine hour. $3.78 per machine hour. $0.78 per machine hour. $2.78 per machine hour