Brief Exercise 17-1 Digger Inc. sells a high-speed retrieval system for mining information. It provides the following information for the year. Budgeted Actual Overhead cost Machine hours Direct labor hours $975,000$950,000 45,000 92,000 50,000 100,000 Overhead is applied on the basis of direct labor hours. Your answer is incorrect. Try again. Compute the predetermined overhead rate. (Round answer to 2 decimal places, e.g. 12.25.) Predetermined overhead rate per direct labor hour Your answer is incorrect. Try again. Determine the amount of overhead applied for the year. Amount of overhead applied