A company uses a job order cost system with manufacturing overhead applied to products on the basis of machine hours. For the upcoming year, the company estimated total manufacturing overhead cost of $282,500 and total machine hours of 45,200 . During the year actual manufacturing overhead incurred was $271,440 and 46,800 machine hours were used. Required: a. Calculate the predetermined overhead rate. b. Calculate how much manufacturing overhead will be applied to production. c. Is overhead over- or underapplied? By how much? d. What account should be adjusted for over- or underapplied overhead? Should the balance be increased or decreased? Complete this question by entering your answers in the tabs below. Calculate the predetermined overhead rate. Note: Round your answer to 2 decimal places