Foundry in Philadelphia, Pennsylvania, uses a predetermined manufacturing overhead rate to allocate overhead to individual jobs based on the machine hours required. At the beginning of the year, the company expected to incur the Click the icon to view the costs following Read the teurements Requirement 1. Compute Smith's predetermined manufacturing overhead rate Data table Determine the formula to calculate the predetermined overhead rate, then calculate the rate Predetermined overhead rate Manufacturing overhead costs 580,000 Direct labor cost. Machine hours... $550.000 72,500 - X 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 incured during the year? is manufacturing overhead underallocated or overallocated at the end of the year? By how much? 4. Were the jobe overcosted or undercoated? By how much? Delivery drivers' wages. Plant janitors wages Machine hours At the end of the year, the company had actually incumed the flowing Direct labor cost $1,250,000 Depreciation on manufacturing plant and equipment 470,000 Property taxes on plant 21,000 25.000 $ 16,000 8.500 5500 Print Done Help me solve this Video Get more help Print Done Clear all Check answer