Freeman Foundry 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 following: (Click the icon to view the beginning of the year information.) At the end of the year, the company had actually incurred the following: (Click the icon to view the ending of the year information.) Requirements 1. Compute Freeman's predetermined manufacturing overhead rate. 2. How much manufacturing overhead was allocated to jobs during the year? 3. How much manufacturing overhead was incurred during the year? Is manufacturing overhead underallocated or overallocated at the end of the year? By how much? 4. Were the jobs overcosted or undercosted? By how much? Data Table Direct labour cost. ............................$ Depreciation on manufacturing plant and equipment Property taxes on plant. Sales salaries....... 1,210,000 480,000 20,000 25,000 15,000 10,000 55,000 hours Delivery drivers' wages ........................ Plant janitors' wages ....... Machine hours Print Done Data Table Manufacturing overhead cost . $ Direct labour cost ........... 600,000 1,500,000 75,000 hours Machine hours ............ Print Done