Logan Products computes its predetermined overhead rate annually on the basis of machine-hours. At the beginning of the year, estimated that its total manufacturing overhead would be $354,500 and machines would be run a total of 23,000 hours its actual total manufacturing overhead for the year was $342.400 and its actual total machine hours was 22.500 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 rote to 2 decimal places) Predetermined overhead rate Underapplied overhead 5 $ 16.02 per MH 4,030