Walton, Inc. estimates manufacturing overhead costs for the Year 3 accounting period as follows. Equipment depreciation Supplies Materials handling Property taxes Production setup Rent Maintenance Supervisory salaries $190,900 20,000 33,500 14,200 20,600 43,300 39,300 311,400 The company uses a predetermined overhead rate based on machine hours. Estimated hours for labor in Year 3 were 203,000 and for machines were 132,000. Required a. Calculate the predetermined overhead rate. (Round your answer to 2 decimal places.) b. Determine the amount of manufacturing overhead applied to Work in Process Inventory during the Year 3 period if actual machine hours were 147.000. (Do not round intermediate calculations.) per machine hour a. Predetermined overhead rate b. Applied manufacturing overhead