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 $350,800 53,500 138,500 206,988 38,900 12,250 19,000 54,000 18,700 5912,638 Required: 1. Calculate the predetermined overhead rate per direct labor hour if the average direct labor rate is $1101 per hour. 2. Determine the amount of applied overhead if 18.400 actual hours are worked in the upcoming year