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Verizox Company uses a job order cost system with manufacturingoverhead applied to products based on direct labor hours. At thebeginning of the most recent year, the company estimated itsmanufacturing overhead cost at $172,980. Estimated direct laborcost was $435,240 for 18,600 hours.Actual costs for the most recent month are summarizedhere: Item DescriptionTotal CostDirect labor (1,860 hours)$43,525Indirect costsIndirect labor2,430Indirect materials3,380Factory rent3,240Factory supervision4,810Factory depreciation5,640Factory janitorial work1,150Factory insurance1,830General and administrativesalaries4,250Selling expenses5,380Required:1. Calculate the predetermined overhead rate.(Round your answer to 2 decimal places.)2. Calculate the amount of applied manufacturingoverhead.3. Calculate actual manufacturing overheadcosts.4. Compute over- or underapplied overhead.(Input the amount as positive value.)