Exercise 11-7A (Algo) Treatment of overapplied or underapplied overhead LO 11-2 Munoz Company and Perez 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 Munoz Company $ 149,000 154,000 55,900 Perez Company $ 174,000 110,000 90,600 67,760 95,700 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 Compute the predetermined overhead rate for each company. (Round your answers to 2 decimal places.) Munoz Company Perez Company Predetermined Overhead direct labor dollar direct labor dollar (Required A Required B Exercise 11-7A (Algo) Treatment of overapplied or underapplied overhead LO 11-2 Munoz Company and Perez 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 Munoz Company $ 149,000 154,000 55,900 Perez Company $ 174,000 110,000 90,600 67,760 95,700 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 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 Munoz Company Perez Company