Part B: (6 marks) The following information has been made available to you. Assume that overhead is applied on the basis of direct labor hours. Actual overhead Estimated overhead $47,400 $48,300 Actual direct labor hours 8,900 Estimated direct labor hours 9,200 Instructions: (2 marks each) 1. Compute the predetermined overhead rate. 2. Compute overhead applied. 3. Compute over- or underapplied overhead (indicate amount and direction).