White Company has two departments cutting and finishing. The company uses a job-order costing system and computes a predetermined overhead rate in each department. The cutting department bases its rate on machine-hours, and the finishing department bases its rate on direct labour cost. At the beginning of the year, the company made the following estimates Department Cutting 3,000 Vinishing Direct labour hours Machine-hours Manufacturing overhead cost 42,000 $437,100 33,000 3,000 $53,500 Direct labour C $ 50,000 $290,000 Required: 1. Compute the predetermined overhead rate to be used in each department (Round your answers to 2 decimal places.) Department Predetermined overhead rate Cutting per MH Finishing %of OLC 2. Assume that the overhead rates that you computed in Requirement (D) are in effect. The job cost sheet for job 203, which was started and completed during the year, showed the following Department Cutting Finishing Machine-hours Direct labour-hours Materials requisitioned Direct labour cost 201 50 1470 5:66 $200 5158 Compute the total overhead cost applied to job 203 (Do not round intermediate calculations and round your answer to 2 decimal places.)