Wheeler's Bike Company manufactures custom racing bicycles. The company uses a job order cost system to...

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Wheeler's Bike Company manufactures custom racing bicycles. The company uses a job order cost system to determine the cost of each bike. Estimated costs and expenses for the coming year follow: Bike parts Factory machinery depreciation Factory supervisor salaries Factory direct labor Factory supplies Factory property tax Advertising cost Administrative salaries $ 351,800 54,000 141,000 213,312 44,400 26,250 20,500 48,500 22,200 $ 921,962 Administrative-related depreciation Total expected costs Required: 1. Calculate the predetermined overhead rate per direct labor hour if the average direct labor rate is $11.11 per hour. 2. Determine the amount of applied overhead if 18,100 actual hours are worked in the upcoming year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate the predetermined overhead rate per direct labor hour if the average direct labor rate is $11.11 per hour. Note: Round your answer to 2 decimal places. Predetermined Overhead Rate per DL Hour Wheeler's Bike Company manufactures custom racing bicycles. The company uses a job order cost system to determine the cost of each bike. Estimated costs and expenses for the coming year follow: Bike parts Factory machinery depreciation Factory supervisor salaries Factory direct labor Factory supplies Factory property tax Advertising cost Administrative salaries $ 351,800 54,000 141,000 213,312 44,400 26,250 20,500 48,500 22,200 $ 921,962 Administrative-related depreciation Total expected costs Required: 1. Calculate the predetermined overhead rate per direct labor hour if the average direct labor rate is $11.11 per hour. 2. Determine the amount of applied overhead if 18,100 actual hours are worked in the upcoming year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate the predetermined overhead rate per direct labor hour if the average direct labor rate is $11.11 per hour. Note: Round your answer to 2 decimal places. Predetermined Overhead Rate per DL Hour