The Work in Process Inventory account of a manufacturing company has a $$4,400$ debit balance. The company applies overhead using direct labor cost. The cost sheet of the only job still in process shows direct material cost of $$2,000$ and direct labor cost of $$800.$ Therefore, the company's predetermined overhead rate is:

Multiple Choice

$40\%$ of direct labor cost.

$50\%$ of direct labor cost.

$80\%$ of direct labor cost.

$200\%$ of direct labor cost.