Chapter 16 Practice Problems II Problem #2 Estimated Direct Labor Hours 530,000 Estimated Direct Labor Dollars 1,250,000$ Estimated Factory Overhead 874,500$ Actual Direct Labor Hours 565,000 Actual Direct Labor Dollars 1,375,000$ Actual Factory Overhead Costs 980,000$ The company's applies overhead to products based on Direct Labor Hours. A) Calculate the predetermined factory overhead rate based on Direct Labor Hours. B) Use the predetermined overhead rate to apply overhead to products. C) Calculate the over/underapplied overhead.