James Cook, a production department worker, is paid on hourly basis at a rate of $15 per hour. James works 40 hours per week. Any time James works over 40 hours, it is considered as overtime and he is paid at a rate of $22 for each overtime hour. From the labor time sheet of the first week of January the following data are summarized. 46 hours Total work hours Time for waiting materials Time for waiting machine repairs 3 hours 3 hours Time for cleaning the work place 1 hours 7. Calculate the applied (allocated) overhead rate. (5 points) 8. Determine monetary values of indirect labor cost items (5 points)