6. Schaefer Corp.'s cost accountant thinks that machine hours are the best activity base for applying its factory overhead cost. The estimate of annual factory overhead costs for all its jobs is $315,200. Schaefer used 900 machine hours for Job #61, which is the only job in work in process inventory. The expected machine hours for the year totaled 32,000 machine hours. At the end of the accounting period, the factory overhead account had an actual (debit) balance of $9,200. a) Calculate Schaefer's Predetermined Factory Overhead Rate (round to nearest $0.00). b) Calculate Schaefer's under or over-applied factory overhead cost at the end of the accounting period