Digger Inc. sells a high-speed retrieval system for mining information. It provides the following information for the year. Overhead cost Machine hours Direct labor hours Budgeted $1,578,960 60,300 108,000 Actual $1,553,960 49,200 102,700 Overhead is applied on the basis of direct labor hours. Compute the predetermined overhead rate. (Round answer to 2 decimal places, e.g. 12.25.) Predetermined overhead rate per direct labor hour LINK TO TEXT Determine the amount of overhead applied for the year. Amount of overhead applied