Privack Corporation has a standard cost system in which it applies overhead to products based on the standard direct lab

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Privack Corporation has a standard cost system in which itapplies overhead to products based on the standard directlabor-hours allowed for the actual output of the period. Dataconcerning the most recent year appear below: Budgeted variableoverhead cost per direct labor-hour $ 4.50 Total budgeted fixedoverhead cost per year $ 563,213 Budgeted direct labor-hours(denominator level of activity) 59,286 Actual direct labor-hours83,000 Standard direct labor-hours allowed for the actual output81,000 Required:
1. Compute the predetermined overhead rate for the year. Be sureto include the total budgeted fixed overhead and the total budgetedvariable overhead in the numerator of your rate. (Round yourintermediate calculations and final answer to the nearest wholedollar amount.)
2. Compute the amount of overhead that would be applied to theoutput of the period. (Round your intermediate calculations andfinal answer to the nearest whole dollar amount.)