Exercise 11-4A (Algo) Calculating applied overhead LO 11-2 Fanning. Inc estimates manufacturing overhead costs for the Year 3 accounting period as follows The company uses a predetermined overhead rate based on machine hours. Estimated hours for labor in Year 3 were 210.000 and for machines were 126,000 Required o. Calculate the predetermined overhead rate. (Round your answer to 2 decimal places.) b. Determine the amount of manufacturing overhead applied to Work in Process Inventory during the Year 3 period if actual machine hours were 141,000 (Do not round intermediote colculations.) The company uses a predetermined overhead rate based on machine hours. Estimated hours fo machines were 126,000 . Required a. Calculate the predetermined overhead rate. (Round your answer to 2 decimal places.) b. Determine the amount of manufacturing overhead applied to Work in Process Inventory durin hours were 141,000. (Do not round intermediate calculations.)