Brief Exercise 17-01 a-b Digger Inc. sells a high-speed retrieval system for mining information. It provides the following information for the year. Actual Overhead cost Budgeted $1,045,000 57,500 110,000 Machine hours $1,019,000 49,200 106,000 Direct labor hours Overhead is applied on the basis of direct labor hours. Compute the predetermined overhead rate. (Round answer to 2 decimal places, e.g. 12.25.) Predetermined overhead rate per direct labor hour $ Determine the amount of overhead applied for the year. Amount of overhead applied $ Click if you would like to Show Work for this question: Open Show Work