Digger Inc. sells a high-speed retrieval system for mining information. It provides the following information for the year. Budgeted Actual Overhead cost $1,253,200 $1.224,200 Machine hours 56.700 49,400 Direct labor hours 104,000 98,400 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 Determine the amount of overhead applied for the year. Amount of overhead applied $