Wheelers 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

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 $ 350,000 55,000 140,000 300,000 7,500 37,500 14,500 80,000 16,000 $ 1,000,500 Required: 1. Calculate the predetermined overhead rate per direct labor hour if the average direct labor rate is $15 per hour per DL Hour 2. Determine the amount of applied overhead if 18,500 actual hours are worked in the upcoming year Overhea