TIVE ample 4.1 At the beginning of the year, Ilberg Company estimated the following costs Brief Exercise 4-22 Predetermined Overhead Rate, Overhead Application Overhead Direct labor cost $416,000 520,000 Ilberg uses normal costing and applies overhead on the basis of direct labor cost. (Direct labor cost is equal to total direct labor hours worked multiplied by the wage rate.) For the month of December, direct labor cost was $43,700 Required: 1. Calculate the predetermined overhead rate for the year. 2. Calculate the overhead applied to production in December