5. Add the costs of the completed house that has not yet beell 3UIU this equals the ending balance in Finished Goods Inventory. 6. Compute gross profit on the house that was sold. What costs must gross profit cover for Superior Construction? 19-31A Accounting for manufacturing overhead Prestige Woods manufactures jewelry boxes. The primary materials (wood, brass, and glass) and direct labor are assigned directly to the products. Manufacturing overhead costs are allocated based on machine hours. Data for 2018 follow: Estimated Actual Machine hours Maintenance labor (repairs to equipment) Plant supervisor's salary Screws, nails, and glue Plant utilities Freight out Depreciation on plant and equipment Advertising expense 27,000 hours $ 17,000 48,000 28,000 44,000 37,000 85,400 46,000 32,100 hours $23,500 50,000 45,000 92,850 49,500 83,000 53,000 Requirements 1. Compute the predetermined overhead allocation rate. Round to two decimal places. 2. Post actual and allocated manufacturing overhead to the Manufacturing Overhead T-account. 3. Prepare the journal entry to adjust for underallocated or overallocated overhead. 4. The predetermined overhead allocation rate usually turns out to be inaccurate. Why don't accountants just use the actual manufacturing overhead rate