Belichick Corporation applies manufacturing overhead on the basis of direct labor-hours. At the beginning of the most recent year the company based its predetermined overhead rate on total estimated overhead of $97, 500 and 3,000 estimated direct labor-hours. Actual manufacturing overhead for the year amounted to $99, 400 and actual direct labor-hours were 2, 850. Required: The predetermined overhead rate for the year was closest to: The applied manufacturing overhead for the year was closest to