1. (20 points) Vandelay Industries makes furrature using the latest automated technology. The company uses a job-order costing system and applies manufacturing overhead cost to products on the basis of machine-hours. The following estimates were used in preparing the predetermined overhead rate at the beginning of the year FOR ANSWERS: Do not include S or (dollar signs or commas) The test is autocorrected looking for exact matches. I review all tests to ensure proper credit is given for correct responses Machine-hours Fited manufacturing overhead cost Variable manufacturing overhead per machme-hour 88,000 1,273,000 $ 3.30 During the year, a ghut of funature on the market resulted in cutting back production and a buldup of furniture in the comp any's warehouse The company's cost records revealed the folowing actual cost and operating data for the year 50,000 Machine-hours Manufacturing overhead cost Inventories at year-end Raw materials 942.000 420,000 S 110,000 Work in process (inchudes overhead appied of 53,310) Finished goods Grichudes overhead applied of 248,780) Cost of goods sold (ncludes overhead applied of 586,410) 1,050,000 2,710,000 50,000 Machine-hours Manufacturing overhead cost Inventories at year-end Raw materials S 942,000 Work in process (ncludes overhead applied of 53,310) Fimished goods (includes overthead apphed of 248,780) Cost of goods sold (ncludes overhead applied of 586410) 420.000 S 110,000 $ 1.050,000 S 2710,000 Compute the Company predetermised owethead rae for the yet How much manufacturng overhead was alocated during the current year7