(G Granite Company Uses/ax (GCheggStudy I Guided Scx Grand Company uses A x 1667 /View Jameson estimates that 29,400 direct labor hours will be worked during the ear. How much is the predetermined overhead rate if overhead is applied based on direct labor hours? Hint: First use the numbers above to calculate budgeted factory overhead. Malcolm Company uses a predetermined overhead rate based on direct labor hours to apply manufacturing overhead to jobs 3. On September 1, the estimates for the month were: Manufacturing overhead Direct labor hours $60,500 22,000 During September, the actual results were: Manufacturing overhead Direct labor hours $63,900 23,000 How much was over/underapplied overhead for the month of Septembe r? Page 3 t3 13 3