13-16) Springfield Company applies overhead based upon machine hours. Actual factory overhead for the year was $545,000 and actual machine hours were 37,000. Budgeted factory overhead was $534,700 and budgeted machine hours were 36,500. Before disposition of under/over-applied overhead, the cost of goods sold balance was $1, 120,000 and ending inventory balances were as follows: Direct materials $ 120,000 WIP 380,000 Finished goods 500,000 13) Calculate the predetermined manufacturing overhead rate. (to two decimals) 14) Calculate how much overhead was applied during the period. (to nearest dollar) 15) Calculate how much overhead was over or under applied during the period. (to nearest dollar) the appropriate inventory accounts, what percentage