Infotrac Inc. sells a high-speed retrieval system for information. It provides the following information for the year. Budgeted Actual Overhead cost $1,341,340 $958,990 Machine hours Direct labour hours 137,200 93,440 51,590 41,490 Overhead is applied on the basis of machine hours. Calculate the predetermined overhead rate Predetermined overhead rate per machine hour Determine the amount of overhead applied for the year. Amount of overhead applied s