E2-5 (Algo) Calculating Predetermined Overhead Rate and Applied Overhead [LO 2-3] Wheeler's Bike Company manufactures custom racing bicycles. The company uses a job order cost system to determine the cost of each bike. Estimated costs and expenses for the coming year follow: Bike parts Factory machinery depreciation Factory supervisor salaries Factory direct labor Factory supplies Factory property tax Advertising cost Administrative salaries Administrative-related depreciation Total expected costs $345,800 55,000 140,000 205,494 46,400 26,250 23,500 49,000 18,700 $910,144 Required: 1. Calculate the predetermined overhead rate per direct labor hour if the average direct labor rate is $11.81 per hour. 2. Determine the amount of applied overhead if 19,400 actual hours are worked in the upcoming year. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate the predetermined overhead rate per direct labor hour if the average direct labor rate is $11.81 per hour. (Round your answer to 2 decimal places.) Predetermined Overhead Rate $11.81 per DL Hour