The utilization figure for Material Handling Equipment $($MHE$)$ is calculated using which formula?

Question $47$ options:

$($MHE hours used x $8)-$: $($MHE hours available$)$

$($MHE hours used x $40)-$: $($MHE hours available$)$

$($MHE hours used$)-$: $($MHE hours available$)$

$($MHE hours used x $100)/($MHE hours available$)$