Exercise 11-7A (Algo) Treatment of overapplied or underapplied overhead LO 11-2 Fanning Company and Finch Company assign manufacturing overhead to Work in Process Inventory using direct labor cost. The following information is available for the companies for the year: Actual direct labor cost Estimated direct labor cost Actual manufacturing overhead cost Estimated manufacturing overhead cost Fanning Company $148,000 153,000 54,700 67,320 Finch Company $173,000 101,000 90,300 81,810 Required a. Compute the predetermined overhead rate for each company. b. Determine the amount of overhead cost that would be applied to Work in Process Inventory for each company. c. Compute the amount of overapplied or underapplied manufacturing overhead cost for each company. Complete this question by entering your answers in the tabs below. Required A Required B Required C Compute the predetermined overhead rate for each company. (Round your answers to 2 decimal places.) Predetermined Overhead direct labor dollar Fanning Company Finch Company direct labor dollar Required A Required B Required C Determine the amount of overhead cost that would be applied to Work in Process Inventory for each company. (Do not round intermediate calculations.) Overhead Cost Fanning Company Finch Company Required A Required B Required C Compute the amount of overapplied or underapplied manufacturing overhead cost for each company. (Do not round intermediate calculations.) Manufacturing Overhead Amount Over/Under Applied Fanning Company Finch Company