Question 28 Infotrac Inc. sells a high-speed retrieval system for information. It provides the following information for the year. Budgeted Actual Overhead cost $2,035,600 $955,910 Machine hours 50,890 47,040 Direct labour hours 178,870 94,670 Overhead is applied on the basis of machine hours. Calculate the predetermined overhead rate. Predetermined overhead rate $ per machine hour Determine the amount of overhead applied for the year. Amount of overhead applied