Current Attempt in Progress

A company estimated its annual overhead costs to be $$1000000$ and its direct labor costs to be $$500000.$ Actual overhead was $$800000,$ and actual labor costs totaled $$550000.$ What is the company's predetermined overhead rate to the nearest cent?

$$1\mathrm{.}82$

$$1\mathrm{.}45$

$$2\mathrm{.}00$

$$1\mathrm{.}60$