Alba Foundry 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 the year information.) At the end of the year, the company had actually incurred the following: (Click the icon to view the ending of the year information.) Requirements 1. Compute Alba's predetermined manufacturing overhead rate. How much manufacturing overhead was allocated to jobs during the year? How much manufacturing overhead was incurred during the year? Is manufacturing overhead underallocated or overallocated at the end of the year? By how much? Were the jobs overcosted or undercosted? By how much? Requirement 1. Compute Alba's predetermined manufacturing overhead rate. Determine the formula to calculate the predetermined overhead rate, and then calculate the rate. (Round your answer to the nearest whole dollar.) End of the year information = Predetermined overhead rate per machine hour Direct labour cost. . ... $ 1,220,000 Requirement 2. How much manufacturing overhead was allocated to jobs during the year? Depreciation on manufacturing plant and equipment 553,500 Select the labels for the formula to calculate the overhead to be allocated, and then calculate the manufacturing overhead allocated. Property taxes on plant . 21,000 Sales salaries. 25,500 Manufacturing = overhead allocated Delivery drivers' wages 14,500 Plant janitors' wages 12,000 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? Machine hours . . . . . . . . . . . 64,000 hours Complete the following table to determine the total manufacturing overhead costs. (Leave any unused cells blank.) Beginning of the year information - X Print Done Manufacturing overhead cost . . $ 702,000 Direct labour cost . 1,550,000 Total manufacturing overhead Machine hours 78,000 hours Is manufacturing overhead underallocated or overallocated at the end of the year? By how much? Manufacturing overhead was by $ . Print Done