Franklin, Inc. estimates manufacturing overhead costs for the upcoming accounting period as follows: Equipment depreciation Supplies Materials handling $190,600 20,900 32,500 Property taxes Production setup 13,400 19,900 Rent 43,000 Maintenance 38,700 Supervisory salaries 248,200 The company uses a predetermined overhead rate based on machine hours. Estimated hours for labor were 212,000 and for machines were 132,000. Required 1. Calculate the predetermined overhead rate. (Round your answer to 2 decimal places.) 2. Determine the amount of manufacturing overhead applied to Work in Process Inventory during the 2019 period if actual machine hours were 147,000. YOU MUST SHOW WORK TO EARN CREDIT