Carey Company applies manufacturing overhead costs to products as a percentage of direct labor dollars. Estimated and actual values of manufacturing overhead and direct labor costs are summarized here: Estimated Actual Direct labor cost $600,000 $550,000 Manufacturing overhead 900,000 850,000 Required: 1. Determine how much overhead to apply to production Applied Manufacturing Overhead 150 2. State whether applied overhead was based on actual values, estimated values, or both. Actual Values O Estimated Values Both