Vernon Company and Walton Company assign manufacturing overhead to Work in Process Inventory using direct labor cost. The following information is available for the companies for the year: Actual direct labor cost Estimated direct labor cost Actual manufacturing overhead cost Estimated manufacturing overhead cost Vernon Company Walton Company $ 150,000 155,000 55,500 69,750 $ 175,000 110,000 91,300 95,700 Required a. Compute the predetermined overhead rate for each company. b. Determine the amount of overhead cost that would be applied to Work in Process Inventory for each company. c. Compute the amount of overapplied or underapplied manufacturing overhead cost for each company. Complete this question by entering your answers in the tabs below. Required A Required B Required C Compute the predetermined overhead rate for each company. Note: Round your answers to 2 decimal places. Predetermined Overhead Vernon Company Walton Company direct labor dollar direct labor dollar Required A Required B >