High Desert Potteryworks makes a variety of pottery products that it sells to retailers such as Home Depot. The company uses a job-order costing system in which predetermined overhead rates are used to apply manufacturing overhead cost to jobs. The predetermined overhead rate in the Molding Department is based on machine-hours, and the rate in the Painting Department is based on direct labor cost. At the beginning of the year, the company's management made the following estimates: Molding Painting Direct labor-hours . 12,000 60,000 Machine-hours . 70,000 8,000 Direct materials cost . 510,000 650,000 Direct labor cost . 130,000 420,000 Manufacturing overhead cost . 602,000 735,000 The following information pertains to Job 205, which was started on August 1 and completed on August 10. Molding Painting Direct labor-hours 30 85 Machine-hours 110 20 Materials placed into production $470 332 Direct labor cost $290 680 1. Compute' the predetermined overhead rate used during the year in the Molding Department. Compute the rate used in the Painting Department. 2. Compute the total overhead cost applied to Job 205. 3. What would be the total cost recorded for Job 205? If the job contained 50 units, what would be the unit product cost? 4. At the end of the year, the records of High Desert Potteryworks revealed the following actual cost and operating data for all jobs worked on during the year: Molding Painting Direct labor-hours .10,000 62,000 Machine-hours . 65,000 9,000 Direct materials cost .430,000 680,000 Direct labor cost . 108,000 436,000 Manufacturing overhead cost .570,000 750,000 What was the amount of underapplied or overapplied overhead in each department at the end of the year