Samli Company estimates that annual manufacturing overhead costs will be $450,000. Estimated annual operating activity bases are: direct labour cost $720,000, direct labour hours 90,000, and machine hours 65,000. The actual manufacturing overhead cost for the year was $463,250 and the actual direct labour cost for the year was $735,000. Actual direct labour hours totalled 93,000 and machine hours totalled 66,000. Samli applies overhead based on direct labour hours. Calculate the predetermined overhead rate and determine the amount of manufacturing overhead applied. Determine if overhead is over or under applied and the amount. Instructions How much is the predetermined overhead rate? Write the predetermined overhead formula? How much overhead is over or under applied for the year for the company? State the amount and whether it's over or under. State the hybrid formula? Prepare the adjusting entry to close the under applied or over-applied overhead?