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 wachinery depreciation Factory supervisor salaries Factory direct labor Factory supplies Factory property tax Advertising cost Adeinistrative salaries Administrative related depreciation Total expected costs 534,00 50.000 142.500 212.30 45.400 33,250 24,000 50,000 27200 $940.738 Required: 1. Calculate the predetermined overhead rate per direct labor hour if the average direct labor rate is 511 81 per hour 2. Determine the amount of applied overhead if 17.500 actual hours are worked in the upcoming year