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 $356, 800 57,500 139,000 211,732 38, 400 26, 250 19,500 55,000 23,700 $927,882 Required: 1. Calculate the predetermined overhead rate per direct labor hour if the average direct labor rate is $12.31 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 $12.31 per hour. (Round your answer to 2 decimal places.) Predetermined Overhead Rate per DL Hour