Digger Inc. sells a high-speed retrieval system for mining information. It provides the following information for the year.

		Budgeted		Actual
Overhead cost		$1,286,740		$1,257,740
Machine hours		58,600		47,600
Direct labor hours		101,000		97,500

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

eTextbook and Media

Determine the amount of overhead applied for the year.

Amount of overhead applied

$