Alba Foundry in Youngstown, Ohio, 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 costs.) Read the requirements Requirement 1. Compute Alba's predetermined manufacturing overhead rato Determine the formula to calculate the predetermined overhead rate, then calculate the rate Estimated yearly overhead costs Estimated yearly machine hours Predetermined overhead rate per machine hour ora urci Manufacturing overnead costs OZU, VUU Direct labor cost $ 1,450,000 Machine hours 77,500 At the end of the year, the company had actually incurred the following: .... ... - . Direct labor cost . . . . . $ 1,170,000 Depreciation on manufacturing plant and equipment 465,000 Property taxes on plant $ 20,500 Sales salaries $ 23,000 Delivery drivers' wages $ 13,500 Plant janitors' wages $ 9,500 Machine hours 56,000 hours Print Done N 10MLOWING: Requirements 1. Compute Alba's predetermined manufacturing overhead rate. 2. How much manufacturing overhead was allocated to jobs during the year? 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? 4. Were the jobs overcosted or undercosted? By how much? Print Done