Digger Inc. sells a high-speed retrieval system for mining information. It provides the following information for the year. Budgeted Actual Overhead cost $1,202,040 $1,173,040 Machine hours 55,800 46,400 Direct labor hours 106,000 103,000 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 $ eTextbook and Media Determine the amount of overhead applied for the year.. Amount of overhead applied $ per direct labor hour