Question 3 of 6 estion 3 points Seven Savings Trust uses bankwide overhead rates to allocate $420,000 of indirect costs. The bankwi de rate could be based on either direct labor hours (DLH) or the number of loans processed. The following information was gathered for the upcoming period Department Consumer Commercial DH 16,000 4.000 Loans Processed 800 400 1. What would be the rate based on direct bor hou 2. What would be the rate based on number of loans processes 3. If Savings uses a rate based on direct labor hours, how much overhead will be allocated to the Consumer department? 4. If Savings uses a rate based on number of loans processed, how much overhead will be allocated to the Consumer department Foster Corporation applies overhead using a normal costing approach based upon machine hours, Budgeted factory overhead was $247.500 budgeted machine hours were 16500. Actu factory overhead was $267.920, actual machine-hours were 18.500. How much is the over or underapplied overhead? Be sure to say whether overhead is overapplied or underapplied