book Show Me How Predetermined Overhead Rate: Overhead Application At the beginning of the year, tistes company estimated the following costs: Overhead $450,000 Direct labor cost 600,000 Estes uses normal conting and applies overhead on the basis of direct labor cost. (Direct labor cost is equal to total direct labor hours worked multipled by the wage rate) For the month of September, direct labor cost was $46,500 Required: 1. Calculate the predetermined overhead rate for the year Enter the percentage as a whole number, % of direct labor cost 2. Calculate the overhead applied to production in September