The following T-accounts have been constructed from last year's records at C&C Manufacturing: Raw Materials Bal 10,000 (b) 252,000 (a) 247,000 5,000 Work In Process Bal 6,000 (f) 506,000 (b) 161,000 (c) 154,000 (e) 192,500 7,500 Finished Goods Bal 0 (g) 500,000 (f) 506,000 6,000 Manufacturing Overhead (b) 91,000 (e) 192,500 (c) 26,000 (d) 78,000 195,000 192,500 2,500 (h) 2,500 Cost of Goods Sold (g) 500,000 (h) 2,500 C&C Manufacturing uses job-order costing with a predetermined overhead rate and applies manufacturing overhead to jobs based on direct labor costs. What is the predetermined overhead rate? 105% 100% 125% 120%