5. At the beginning of the current year, Johnson Corporation estimated that its manufacturing overhead would be $70,000 and the activity level would be 10,000 machine-hours. The level of activity at capacity is 14,000 machine-hours. The actual manufacturing overhead for the year was $63,300 and the actual level of activity was 10,100 machine-hours. Required: a. If the company bases its predetermined overhead rate on estimated machine-hours, then its predetermined overhead rate would have been: b. If the company bases its predetermined overhead rate on estimated machine-hours, then its overhead for the year would have been, indicate overapplied or underapplied If the company bases its predetermined overhead rate on machine-hours at capacity, then its predetermined overhead rate would have been: c