Chloe Corp uses a job order costing system with manufacturing overhead applied to products on the basis of direct labor hours. For the upcoming year, Chloe Corp estimated total manufacturing overhead cost at $480,000 and total direct labor hours of 40,000 . During the year actual manufacturing overhead incurred was $462.500 and 41.000 direct labor hours were used (a) Calculate the predetermined overhead rate. (b) Calculate how much manufacturing overhead will be applied to production. (c) Is overhead over-or underapplied? By how much? (Input the amount as positive value.) (d) What account should be adjusted for over-or underapplied overhead? Should the balance be increased or decreased