Brief Exercise 18-1 Digger Inc. sells a high-speed retrieval system for mining information. It provides the following information for the year. Budgeted Actual Overhead $1,050,740 $1,022,740 Cost Machine 56,600 49,200 hours Direct labor 107,000 101,700 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 LINK TO TEXT Determine the amount of overhead applied for the year. Amount of overhead applied