Logan Products computes its predetermined overhead rate annually on the basis of machine hours. At the beginning of the you estimated that its total manufacturing overhead would be $363,506 and machines would be run a total of 27500 hours section manufacturing overhead for the year was $351,400 and its actual total machine-hours was 27000 hours Required: Compute the company's predetermined overhead rate for the year, calculate the total overhead applied and determine the amount et. under-or overapplied overhead in the year. (Round your predetermined overhead rate to 2 decimal places.)