TY Musicality determines the overhead rate based on direct labor hours. At the beginning of the year, the company estimates total overhead costs to be $2,500,000 and total direct labor hours to be 1,250,000. The predetermined overhead rate is: TUNIVEA YAN NIVERSITY O a $ 2.00 per labor hour O b.$0.50 per labor hour SITY YA SITY O $1.00 per labor hour UNIVER O d. 3.50 per labor hour RSITY (1)