The Work in Process Inventory account of a manufacturing company has a $6,048 debit balance. The company applies overhead using direct labor cost The cost sheet of the only job still in process shows direct material cost of $2,400 and direct labor cost of $1,200. Therefore, the company's predetermined overhead rate is: Multiple Choice 200% of direct labor cost. 49% of direct labor cost 102% of direct labor cost 50% of direct labor cost. 204% of direct labor cost