Steele Corporation uses a predetermined overhead rate based on machine hours to apply manufacturing overhead to jobs. Steele Corporation has provided the following estimated costs for next year Direct materials $ 20,000 Direct labor $ 60,000 Sales commissions $ 80,000 Salary of production supervisor 5 40,000 Indirect materials 5 8,000 Advertising expense 5 16,000 Rent on factory equipment $ 20,000 Time left for this Steele Corporation uses a predetermined overhead rate based on machine hours to apply manufacturing overhead to jobs. Steele Corporation has provided the following estimated costs for next year Direct materials $ 20,000 Direct labor $ 60,000 Sales commissions $ 80,000 Salary of production supervisor 5 40,000 Indirect materials 5 8,000 Advertising expense 5 16,000 Rent on factory equipment $ 20,000 Time left for this