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, to two (2) decimal places, is Multiple Choice $4.86 per machine hour $2.86 per machine hour $5.86 per machine hour 53.86 per machine hour 5186 per machine hour $ 35,000 $11,000 $ 10,000 3,000 4,100 3,500 $ 3