Wildhorse Inc. sells a high-speed retrieval system for information. It provides the following information for the year. Budgeted Actual Overhead cost $1,400,000 $964,270 Machine hours 50,000 44,260 Direct labour hours 144,900 90,440 Overhead is applied on the basis of machine hours. (a) V Your answer is correct. Calculate the predetermined overhead rate. Predetermined overhead rate 53 per machine hour eTextbook and Media Attempts: 1 of 2 used (b) Determine the amount of overhead applied for the year. Amount of overhead applied 35