Question 12 (1 point) Smith Company uses a predetermined overhead rate based on machine-hours to apply manufacturing overhead to jobs. The company has provided the following estimated costs for next year: Plywood used to make tables .$1,000 Table Assembler wages. Table Welder wages $2,000 Showroom advertisement 400 Accounting supervisor 800 Insurance on assembly equipment....$1,000 $4,000 Smith estimates that 500 direct labor-hours and 1,000 machine-hours will be worked during the year. The predetermined overhead rate per hour will be: $11.00 $4.00 $1.00 $5.00