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: 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. Compute the predetermined overhead rate for each company. Note: Round your answers to 2 decimal places. 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: Required a. Compute the predetermined overhead rate for each company. b. Determine the amount of overhead cost that would be appled 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. Determine the amount of overhead cost that would be applied to Work in Process Inventory for each company. Note: Do not round intermediate calculations. 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: 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. Compute the amount of overapplied or underapplied manufacturing overhead cost for each company. Note: Do not round intermediate calculations