Logan Products computes its predetermined overhead rate annually on the basis of direct labour-hours. At the beginning of the year, it estimated that its total manufacturing overhead would be $589,300 and the total direct labour would be 41,500 hours. Its actual total manufacturing overhead for the year was $719,100 and its actual total direct labour was 42,500 hours

Logan Products computes its predetermined overhead rate annually on the basis of direct labourhours. At the beginning of the year, it estimated that its total manufacturing overhead would be $589,300 and the total direct labour would be 41,500 hours. Its actual total manufacturing overhead for the year was $719,100 and its actual total direct labour was 42,500 hours. Required: Compute the company's predetermined overhead rate for the year, calculate the total overhead applied, and determine the amount of under or overapplied overhead in the year. [Round your predetermined overhead rate to 2 decimal places} Predetennined overhead rate -| per DLH