E2-18 (Algo) Calculating Actual and Applied Manufacturing Overhead Costs and Over- or Underapplied Overhead Costs [LO 2-3, 2-4, 2-5, 2-6] Verizox Company uses a job order cost system with manufacturing overhead applied to products based on direct labor hours. At the beginning of the most recent year, the company estimated its manufacturing overhead cost at $189,050. Estimated direct labor cost was $467,650 for 19,900 hours. Actual costs for the most recent month are summarized here: Item Description Direct labor (1,990 hours) Indirect costs Indirect labor Indirect materials: Factory rent Total Cost $46,766 2,470 3,390 3,370 4,890 Factory depreciation 5,760 Factory janitorial work 1,260 Factory insurance 1,800 General and administrative salaries 4,200 Selling expenses 5,470 Factory supervision 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.