Question 1 of 14 0/1 Sheridan Inc. sells a high-speed retrieval system for mining information. It provides the following information for the year. Overhead cost Machine hours Direct labor hours Budgeted $1,207,340 60,900 106,000 Actual $1,181,340 47,900 102,000 Overhead is applied on the basis of direct labor hours. Your answer is incorrect. Compute the predetermined overhead rate. (Round answer to 2 decimal places, e.g. 12.25.) Predetermined overhead rate $ per direct labor hour Question 1 of 14 0/1 e Textbook and Media Your answer is incorrect. Determine the amount of overhead applied for the year. Amount of overhead applied $ Question 2 of 14 0/1 Vaughn Inc. sells a high-speed retrieval system for mining information. It provides the following information for the year. Overhead cost Machine hours Direct labor hours Budgeted $1,306,800 57.800 110,000 Actual $1,279,800 49,500 106,200 Overhead is applied on the basis of direct labor hours. X Your answer is incorrect. Compute the predetermined overhead rate. (Round answer to 2 decimal places, e.g. 12.25.) Predetermined overhead rate per direct labor hour Question 3 of 14 -/1 View Policies Current Attempt in Progress Waterway Company identifies three activities in its manufacturing process: machine setups, machining, and inspections. Estimated annual overhead cost for each activity is $211.700,5446,400, and $83,200, respectively. The cost driver for each activity and the estimated annual usage are number of setups 2,900, machine hours 24,800, and number of inspections 1,600. Compute the overhead rate for each activity. Machine setups $ per setup Machining per machine hour Inspections $ per inspection e Textbook and Media