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 $349,800 62,500 136,000 237,677 45,400 33,250 26,000 53,500 23,200 $967, 327 Required: 1. Calculate the predetermined overhead rate per direct labor hour if the average direct labor rate is $12.71 per hour. 2. Determine the amount of applied overhead if 17,600 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 $12.71 per hour. (Round your answer to 2 decimal places.) Predetermined Overhead Rate per DL Hour Required 1 Required 2 > Required 1 Required 2 Determine the amount of applied overhead if 17,600 actual hours are worked in the upcoming year. (Round your intermediate calculations to 2 decimals. Round your final answer to the nearest whole dollar.) Applied Overhead