Multiple Choice Question 80 ABC Corporation allocates overhead based on direct labor cost. Assume ABC expects to incur a total of $1,025,000 in overhead costs and $820,000 in direct labor costs. Actual overhead costs incurred totaled $1,050,000 and actual direct labor costs totaled $800,100. ABC's predetermined overhead rate is nearest 128% of direct labor cost. 98% of direct labor costs 125% of direct labor cost 100% of direct labor costs