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7. Williams Incorporated estimated overhead to be $440,000 and direct labor hours to be 100,000 for the year. Actual direct labor ended up being 120,000

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7. Williams Incorporated estimated overhead to be $440,000 and direct labor hours to be 100,000 for the year. Actual direct labor ended up being 120,000 hours. Actual overhead for the year amounted to $500,000. A. What is the predetermined overhead rate? B. What is the applied overhead for the year? C. What is the amount of under-or over-applied overhead at the end of the year

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