Digger Inc. sells a high-speed retrieval system for mining information. It provides the following information for the year. Budgeted Actual Overhead cost $1,440,540 $1,415,540 Machine hours 55,700 49,100 Direct labor hours 106,000 101,400 Overhead is applied on the basis of direct labor hours Compute the predetermined overhead rate. (Round answer to 2 decimal places, eg. 12.25.) Predetermined overhead rate $ per direct labor hour 1.04 eTextbook and Media Determine the amount of overhead applied for the year. Amount of overhead applied $