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 cont Administrative salaries Administrative-related depreciation Total expected costs $338,800 54,000 137,500 219,666 40,400 25,750 21,000 50,500 10,200 $905,816 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 18,300 actual hours are worked in the upcoming year 5 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 por DL Hour Required 2 > 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 $338,800 54,000 137,500 219,666 40,400 25,750 21,000 50, 500 18.200 $905,816 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 ir 18,300 actual hours are worked in the upcoming year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the amount of applied overhead | 18,300 actual hours are worked in the upcoming year. (Round your intermediate calculations to 2 decimals, Round your nal answer to the nearest whole dollare) Applied vorhend Required 1