Chapter 4 1. Bowman Company costs products using a normal costing system. The following data are available for last year: Budgeted: Overhead $28,560 Machine Hours 8,400 Direct Labor Hours 1,020 Actual: Overhead $28,500 Machine Hours 8,220 Direct Labor Hours 993 Prime Cost $105,000 Number of Units 15,000 Overhead is applied on the basis of direct labor hours. Instructions: 1. What was the predetermined overhead rate? 2. What was applied overhead for last year? 3. Was overhead over- or underapplied, and by how much? 4. What was the total cost per unit produced (carry answer to four significant digits)