The following information is available from the records of a manufacturing company that applies factory overhead based on direct labor cost: Estimated overhead cost Estimated labor cost Actual overhead cost Actual labor cost a. What is the predetermined overhead rate? b. What is the applied overhead for the period? c. Is overhead under- or over- applied and by how much? $241,500 $69,000 $242,200 $75,900 d. How does the under- or over-applied overhead impact Gross Profit (HINT: how does it impact COGS)?