In December 2013, Noll established its predetermined overhead rate for movies produced during year 2014 by using the following cost predictions: overhead costs, $975000,and direct labor costs, $775000At year-end 2014, the company's records show that actual overhead costs for the year are $920000. Actual direct labor cost 750000.

1. Determine the predetermined overhead rate for year 2014

2. Determine weather overhead is overapplied or underapplied ( and the amout) during the year.