Alba Foundry in Austin, Texas, uses a predetermined manufacturing overhead rate to allocate overhead to individual jobs based on the machine hours required. At the beginning of the year, the company expected to incur the following: (Click the icon to view the beginning of year estimated costs.) At the end of the year, the company had actually incurred the following: (Click the icon to view the actual end of year costs.) Read the requirements. Requirement 1. Compute Alba's predetermined manufacturing overhead rate. Determine the formula to calculate the predetermined overhead rate, then calculate the rate. Predetermined overhead rate per machine hour Requirement 2. How much manufacturing overhead was allocated to jobs during the year? Determine the formula to calculate the overhead to be allocated, then calculate the manufacturing overhead allocated. Manufacturing overhead allocated Beginning of year estimated costs Manufacturing overhead costs Direct labor cost $ 560,000 Machine hours.. $ 1,300,000 80,000 Print Done Requirement 3. How much manufacturing overhead was incurred during the year? Is manufacturing overhead underallocated or overallocated at the end of the year? By how much? (If an input field is not used in the table, leave the input field empty; do not select a label or enter a zero.) Total manufacturing overhead Is manufacturing overhead underallocated or overallocated at the end of the year? By how much? Manufacturing overhead was by Requirement 4. Were the jobs overcasted or undercosted? By how much? Jobs were by Actual end of year costs Direct labor cost $ 1,250,000 Depreciation on manufacturing plant and equipment. $ 460,000 Property taxes on plant. $ 21,000 Sales salaries.. $ 28,000 Delivery drivers' wages. $ 17,000 Plant janitors' wages. Machine hours. $ 10,000 58,000 hours Print Done