Thank you for answering in advance,

ABC Company listed the following data for the current year:

Budgeted Factory Overhead 1,500,000

Budgeted machine hours 40,500

Actual machine hours 42,150

Budgeted Labor hours 97,000

Actual Labor Hours 93,550

Actual Factory overhead 1,485,000

1. Assume ABC Industries applied overhead based on machine hours, what is the company's predetermined overhead rate?
2. Assume ABC Industries applied overhead based on direct labor hours, what is the company's predetermined overhead rate?
3. If overhead is based on machine hours, is overhead over/under applied and by how much?
4. If overhead is based on direct labor hours, is overhead over/under applied and by how much?