Jackson Foundry in Columbus, Ohio, 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 costs) Read the requirements Data table oir X 5 p Manufacturing overhead costs ..... $ 590,000 h th Direct labor cost. $ 1,400,000 Machine hours 73,750 At the end of the year, the company had actually incurred the following: Direct labor cost $ 1,220,000 -X er 202 Data table Ohio, any ex Costs.) Depreciation on manufacturing plant and equipment....5 490,000 Property taxes on plant $ 21,000 Sales salaries $ 25,500 Delivery drivers' wages ...... $ 16,500 Plant janitors' wages Machine hours $ 9,500 53,000 hours on's p acturin Print Done us, Ohi mpany he cost 1. Compute Jackson'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? Jackson