Harwood Company is a manufacturing firm that operates a job-order costing system. Overhead costs are applied to jobs on the basis of machine-hours. At the beginning of the year, management estimated that the company would incur $120,000 in manufacturing overhead costs and work 60,000 machine-hours. Required: 1. Compute the company's predetermined overhead rate. (Round your answer to 2 decimal places.) Predetermined overhead rate per MH 2. Assume that during the year the company works only 49,000 machine-hours and incurs the following costs in the manufacturing overhead and work-in-process accounts. Compute the missing amounts and show the balance in your manufacturing overhead T- account. (Do not round intermediate calculations.) Work in Process Manufacturing Overhead 13,100 5,100 452,700 (Direct materials) (Direct labour) (Overhead) 57,200 (Maintenance) (Indirect materials) (Indirect labour) (Utilities) (Insurance) (Depreciation) 37,500 20,400 4,400 35,700 3-a. Compute the amount of under-or overapplied overhead for the year, and show the balance in your manufacturing overhead T- account. overhead is