The following information has been gathered for the Horrell Manufacturing company for its cal year ending December 31 Actual manufacturing overhead costs Actual direct labor hours Actual direct labor costs Estimated manufacturing overhead costs Estimated direct labor Estimated direct labor hours $ 212,500 54.900 $445,000 $ 210,000 $434,000 56,000 What is the predetermined manufacturing overhead rate, assuming direct labor cost is used as the activity base? O 48.4%. 0 49.0% 0 47.2%. 47.8%