True Company provides the following estimated costs for the year The company unes predetermined overhead rate based on machine hours to apply manufacturing overhead to jobs Direct materials $1,000 Direct labor $1,000 Sales commissions $4,000 Salary of production supervisor $2,000 Indirect materials $400 Advertising expense Rent on factory equipment 5500 $1,000 True Company estimates that 500 direct labor-hours and 1000 machine-hours will be worked during the year The predetermined overhead rate per hour will be Murple Choice 5000 per machine-ho $3.00 per machine-hou $6.80 per machine-hour $3.40 per machine-hour