2 Celce the nature overhead allocated during 2014 Cite the amount for overallocated manufacturing overhead: Why do Gar's managers 300-cony Minneapolis plant. The plant has a machining department and an -4-20 Job cesting, ac manufacturing overhead, budgeted rates. The Lynn Company uses de system has two direct-cost categories direct materials and direct acturing overhead cost pools (the machining department overhead, based on actual direct labor costs) The 2014 budget for the plant is as follows located to jobs based on the hours, and the assembly department overhead, alocated to jobs 1 Preset Overview diagram of Lynn's job-costing system Compute the budgeted manufacturing Calculate the bodged and and to calculate this TENES ufacturing laborando Machining Department $1,800,000 $1,400,000 100.000 50,000 Assembly Department $3,500,000 $2.000.000 200,000 200,000 Watufacturing overhead Direct manufacturing labor costs Direct manufacturing bor hours Machine hours Read overhead rate for each department 2. During February, the job-cost record for Job 494 contained the following Assembly Department $70.000 $15,000 1,500 1,000 Machining Department $45,000 $14,000 1.000 2,000 Direct materials used Direct manufacturing labor costs Direct manufacturing labor-hours Machine-hours Compute the total manufacturing overhead costs allocated to Job 494 1 At the end of 2014, the actual manufacturing overhead costs were $2.100.000 in machining and $2,700.000 in assembly. Assume that 55,000 actual machine-hours were used in machining and that actual direct manufacturing labor costs in assembly were $2,200,000. Compute the over- or under allocaved manufac- turing overhead for each department 4:21 Jetcosting, consulting firm. Taylor & Associates, a consulting firm has the following candensed budget for 2014 $20,000,000 Revenues Total costs: Direct costs S5000.000