Adam Industries manufactures wooden backyard playground equipment. Adam 1. Calculate Adam's predetermined manufacturing overhead rate, assuming that estimated $1,800,000 of manufacturing overhead and $2,000,000 of direct labor the company uses direct labor cost as an allocation base. cost for the year. After the year was over, the accounting records indicated that the 2. How much manufacturing overhead would have been allocated to company had actually incurred $1,660,000 of manufacturing overhead and manufacturing jobs during the year? $2,650,000 of direct labor cost. 3. At year-end, was manufacturing overhead overallocated or underallocated? By how much? 1. Calculate Adam's predetermined manufacturing overhead rato, assuming that the company uses direct labor cost as an allocation bdse. (Round the percentage to the nearest hundredth percent, X.XX.) Predetermined manufacturing overhead rate %