company expected to incur the following: (Click the icon to view the beginning of year estimated costs.) At the end of the year, the company had actually incurred the following: (Click the icon to view the actual end of year costs.) Read the Requirement 1. Compute Smith's predetermined manufacturing overhead rate. Determine the formula to calculate the predetermined overhead rate, then calculate the rate. Requirements 1. Compute Smith'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? nd of the year, the company had actually incurred the following: ick the icon to view the actual end of year costs.) Beginning of year estimated costs Actual end of year costs