Platt company produces one product, a putter called PAR-putter. Platt uses a standard cost system cost system and determines that it should take one hour of direct labor to produce one PAR-putter. Production capacity for this putter is 100,000 units per year. The total budgeted overhead at normal capacity is %500,000 comprised of $2500,000 of variable costs and $300,000 of fixed applies overhead on the basis of direct labor hours. During the current year, platt produced 85,000 putters, worked 89,000 direct labor hours, and incurred variable overhead costs of $160,000 and fixed overhead costs of $300,000 Your answer has been saved and sent for grading See gradebook for score details Compute the predetermined variable overhead rate and the predetermined fixed overhead rate