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 $346,800 54,000 143,500 212,580 43,900 32,750 20,000 50,000 23,200 $926,730 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 18,400 actual hours are worked in the upcoming year. 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 per DL Hour Required 1 Required 2 >