Department 1   Department 2 Direct labor hours 640,000         128,000       Machine hours 16,000         192,000       Overhead cost $384,000         $1,152,000       Actual results reported by department and product during the year are as follows:   Department 1   Department 2 Direct labor hours 627,200         134,400       Machine hours 17,600         204,800       Overhead cost $400,000         $1,232,000         Product 1   Product 2 Direct labor hours          Department 1 480,000         147,200          Department 2 96,000         38,400       Machine hours          Department 1 8,000         9,600          Department 2 24,800         180,000       Required: Question Content Area 1. Compute the plantwide predetermined overhead rate. $fill in the blank 61709404fff8051_1 per direct labor hour Calculate the overhead assigned to each product. Product 1 $fill in the blank 61709404fff8051_2 Product 2 $fill in the blank 61709404fff8051_3 2. Calculate the predetermined departmental overhead rates. If required, round your answers to the nearest cent. Department 1 $fill in the blank 61709404fff8051_4 per direct labor hour Department 2 $fill in the blank 61709404fff8051_5 per machine hour Calculate the overhead assigned to each product. Product 1 $fill in the blank 61709404fff8051_6 Product 2 $fill in the blank 61709404fff8051_7 3. Using departmental rates, compute the applied overhead for the year. $fill in the blank 61709404fff8051_8 What is the under- or overapplied overhead for the firm? $fill in the blank 61709404fff8051_9