2. [Calculation] For 2018, Franklin Manufacturing uses machine-hours as the only overhead cost-allocation base. The estimated manufacturing overhead costs are $300,000 and estimated machine hours are 50,000. The actual manufacturing overhead costs are $420,000 and actual machine hours are 60,000 hours. Using job costing, what would be the 2018 budgeted manufacturing overhead rate? (Round the final answer to the nearest cent.) (a) $8.40 per machine-hour (b) $6.00 per machine-hour (c) $7.00 per machine-hour (d) $5.00 per machine-hour (e) $7.50 per machine-hour