A manufacturer budgets $$300,000$ in overhead and $5,000$ direct labor hours. Actual overhead for the period was $$286,700$ and employees worked $4,700$ hours. Overhead is applied on the basis of direct labor hours.

What was the predetermined overhead rate and the amount of applied overhead for the period?

Select one:

a$.$

Rate: $$57\mathrm{.}34$ per labor hour; Applied overhead: $$269,498$

b$.$

Rate: $$60$ per labor hour; Applied overhead: $$282,000$

c$.$

Rate: $$60$ per labor hour; Applied overhead: $$286,700$

d$.$

Rate: $$60$ per labor hour; Applied overhead: $$300,000$