The work in progress inventory account of a manufacturing company has a $8,153 debit balance. The company applies overhead using direct labor cost. The cost sheet of the only job in process shows direct material cost of $2,900 and direct labor cost of $1,700. Therefore the companys predetermined overhead rate is:

171% of direct labor cost

59% of direct labor cost

48% of direct labor cost

123% of direct labor cost

209% of direct labor cost