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 $341,800 59,500 136,500 238, 329 38,400 32,258 21,500 51,500 26,200 $945,979 Required: 1. Calculate the predetermined overhead rate per direct labor hour if the average direct labor rate is $12.61 per hour. 2. Determine the amount of applied overhead if 17,800 actual hours are worked in the upcoming year. Required 1 Required 2 Calculate the predetermined overhead rate per direct labor hour if the average direct labor rate is $12.61 per hour (Round your answer to 2 decimal places.) Predetermined Overhead Rate per DL Hour