Ecola Company uses a job order costing system. Manufacturing overhead is applied on the basis of direct labor cost. Total manufacturing overhead was estimated to be $55,000 for the year; direct labor was estimated to total $10,000. Direct materials used $22,000, Direct labor cost incurred $11,000, Insurance (factory) $9,000, Indirect Labor cost $2,250, Front office maintenance $2,600, Depreciation on factory equipment $14,000, factory utilities $9,000. What is the predetermined overhead rate? Copute the amount of overhead applied for the year. Compute the amount of over or under-applied overhead for the year