At the beginning of the year, the company made the Kody Corporation uses a job-order costing system with a plantwide overhead rate based on machine-hours. following estimates 159.000 51000 4 30 Machine-hours required to support estimated production Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour Required: 1. Compute the predetermined overhead rate (Do not round intermediate calculations. Round your answer to 2 decimal places.) per MH 2 Duning the year Job 500 was started and completed. The tollowing information was available with respect to this job Direct materials requisitioned Direct labor cost Machine-hours used S300 S 240 40 Compute the total manufacturing cost assigned to Job 500. (Round your intermediate calculations and final answer to 2 decimal places) ftinal answer to 2 cecimal places) 3-a During the year the company worked a total of 146,000 machine-hours on all jobs and incurred actual manufacturing overhead costs of $1,229,940 What is the amount of underapplied or overapplied overhead for the year? (Round your intermediate calculations to 2 decimal places) 3-b If this amount were closed out entirely to Cost of Goods Sold, would net operating income increase or decrease? O Increase O Decrease