Question: Walmart Inc. applies overhead using a predetermined rate. The estimated overhead is $700,000, and the estimated direct labor hours are 70,000. The actual overhead incurred

Walmart Inc. applies overhead using a predetermined rate. The estimated overhead is $700,000, and the estimated direct labor hours are 70,000. The actual overhead incurred is $680,000, and the actual direct labor hours are 65,000. Calculate the predetermined overhead rate and the overhead applied.

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