E2-5 (Algo) Calculating Predetermined Overhead Rate and Applled Overhead [LO 2-3] Wheeler's Bike Company manufactures custom racing bicycles. The company uses a job order cost system to determine the cost 0 each bce. Estimated costs and expenses for the coming year follow: Required: 1. Calculate the predetermined overhead rate per direct labor hour if the average direct labor rate is $1231 per hour. 2 Determine the amount of applied overhead if 19.300 actual hours are worked in the upcoming year. Complete this question by entering your answers in the tabs below. Calculate the predetermined overhead rate per direct labor hour if the average direct labor rate is \$12.31 per hous. Hoter Round yoor answer to 2 decimal placess