Exercise 11-4A (Algo) Calculating applled overhead LO 11-2 Rundle, Incorporated estimates manufacturing overhead costs for the Year 3 accounting period as follows. Equipment depreciation Supplies Materials handling Property taxes Production setup Rent Maintenance Supervisory salaries $ 190,000 20,500 32,400 13,300 20,100 43,400 38,800 222,300 The company uses a predetermined overhead rate based on machine hours. Estimated hours for labor In Year 3 were 206,000 and for machines were 132,000 Required a. Calculate the predetermined overhead rate. Note: 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 147,000. Note: Do not round intermediate calculations a. Predetermined overhead rate b. Applied manufacturing overhead per machine hour