Wheeler's Bike Company manufactures custom racing bicycles. The company uses a job order cost system to determine the cost of each bike. Estimated costs and expenses for the coming year follow: Bike parts Factory machinery depreciation Factory supervisor salaries Factory direct labor Factory supplies Factory property tax Advertising cost Administrative salaries Administrative-related depreciation Total expected costs Required: $ 350,000 55,000 140,000 300,000 7,500 37,500 14,500 80,000 16,000 $ 1,000,500 1. Calculate the predetermined overhead rate per direct labor hour if the average direct labor rate is $15 per hour. 2. Determine the amount of applied overhead if 18,500 actual hours are worked in the upcoming year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate the predetermined overhead rate per direct labor hour if the average direct labor rate is $15 per hou Predetermined Overhead Rate per DL Hour