cise 21-5 ation and The production manager of Del Mar Manufacturing Co. has made the following esti- mates for the coming year: overhead ation rate Estimated manufacturing overhead . . . . . .. . . . . . $560,000 Estimated machine hours . . . . . . . . . . . . . . . . . . . ..80,000 hours Compute the overhead application rate based on: (1) Direct labor cost. (2) Machine hours. Assume that the manufacture of a particular product requires $1,000 in direct mate- nstructions a b 0et labor, and 58 mahine hours. Detormine the total cos of manufac- (1) Direct labor cost. (2) Machine hours. r turing this product assuming that the overhead application rate is based upon