The predetermined overhead rate for Austin ine is based direct labor costs estimated o $500,cco and estimated Factory overhead of 31675,000. Actual costs incurred were Direct Materials $225,000 Direer Labor 495.000 Indirect Materials To 1,000 Indirect Labor 250,000 Sales Commissions 75 000 Factory Depreciation 95,000 Factory Insurance 45,000 Factory utilities 75,000 Advertising 65,500 Factory supervisor salary 95,000 Answer the following anda c.) was a.) Calculate the predetermined overhead rate. (round 2 decimal place) b.) Calculate the overhead applied during the year. (round 2 decimes places) was overhead over or under applied for the year, and by how much? d.) when the overhead account is closed at the end of this period, will the resulting entry Increase or Decrease cost OF Goods sold