Franklin Company and Gibson Company assign manufacturing overhead to Work in Process Inventory using direct labor cost. The following information is available for the companies for the year: Franklin Gibson Company Company Actual direct labor cost $148,000 $173,000 Estimated direct labor cost 153,000 109,000 Actual manufacturing overhead cost Estimated manufacturing overhead cost 54,300 91,700 73,440 98,100 Required a. Compute the predetermined overhead rate for each company. b. Determine the amount of overhead cost that would be applied to Work in Process Inventory for each company. c. Compute the amount of overapplied or underapplied manufacturing overhead cost for each company. Complete this question by entering your answers in the tabs below. Required A Required B Required C Compute the predetermined overhead rate for each company. (Round your answers to 2 decimal place Predetermined Overhead Franklin Company Gibson Company direct labor dollar direct labor dollar < Required A Required B >