Calculating Actual and Applied Manufacturing Overhead Costs and Over-or Underapplied Overhead Costs 8. Verizox Company uses a job order cost system with manufacturing overhead applied to products base on direct labor hours. At the beginning of the most recent year, the company estimated its manufactur overhead cost at $300,000. Estimated direct labor cost was $400,000 for 20,000 hours. Actual costs for the most recent month are summarized here Itom Descriptlon Total Cost $33,000 Direct labor (1,500 hours) Indlrect costs Indirect labor Indlrect materlals Factory rent Factory supervision Factory depreclation Factory Janltorial work Factory Insurance General and adminlstrative salaries Selling expenses 4,500 2,500 4,200 4,700 5,600 1,200 2,600 3,100 2,300 Required: 1. Calculate the predetermined overhead rate. 2. Calculate the amount of applied manufacturing overhead. 3. Calculate actual manufacturing overhead costs. 4. Compute over- or underapplied overhead