Corporation uses a job-order costing system with a hours. At the beginning of the year, the company made the plantwide overhead rate based on following estimates: machine- Machine-hours roquired to support estimated production 1 Foxed manufacturing overhead cost 158,000 660,000 Variable manufacturing overhead cost per machine-hour 4.20 Required: 1. Compute the predetemined overhead rate. (Do not round intermediate calculations. Round y our answer to 2 decimal places.) 843 per MH 2. During the year, Job 400 was started and completed. The following information was available with respect to this job: Direct materials requisitioned 330 Direct labor cost Machine-hours used $220 31 Compute the total manufacturing cost assigned to Job 400. (Do not round intermediate calculations and round final answer to 2 decimal places.) Total manufacturing cost $811 3-a. During the year the company worked a total of 145,300 machine-hours on all jobs and incurred actual manufacturing overhead costs of $1,227,379. What is the amount of underapplied or overapplied overhead for the year? (Use the overhead rate determined in requirement 1.) 3-b. If this amount were closed out entirely to Cost of Goods Sold, would net operating income increase or O Increase O Decrease