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 Pactory supervisor salaries Factory direct labor Pactory supplies Pactory property tax Advertising cost Administrative salaries Administrative-related depreciation Total expected conta $341,800 54,500 135,500 223,380 37,900 30,750 22,500 49,000 24,200 $919, 530 Required: 1. Calculate the predetermined overhead rate per direct lobor hour if the average direct labor rate is $12.41 per hour. 2. Determine the amount of applied overhead ir 19,000 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 $12.41 per hour. (Round your answer to 2 decimal places.) Prodetermined Overhead Rote per DL Hour Required 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 $341,800 54,500 135,500 223,380 37,900 30,750 22,500 49,000 24, 200 $919,530 Required: 1. Calculate the predetermined overhead rate per direct labor hour if the average direct labor rate is $12.41 per hour. 2. Determine the amount of applied overhead if 19,000 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 if 19,000 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