POINT VALUE 3 At the beginning of 2017. Zuir Company's accounting department calculated the following estimates for the coming year's production: Estimated overhead $441,600 Estimated Direct labor hours 9,200 hr During the year, Zuir Company experienced $440,000 in actual overhead costs and actually worked 9,100 direct labor hours. Zuir applies overhead to production using a predetermined overhead rate based on direct labor hours. a. Calculate the predetermined overhead rate Zuir uses to apply overhead. (Show your computations.) b. By what amount was overhead over- or underapplied for 2017? (Show your computations.) c. Assuming the amount of over- or underapplied overhead is not significant, will the Cost of Goods Sold account be increased or decreased to correct the application of overhead