Joseph Industries manufactures wooden backyard playground equipment. Joseph estimated $1,845,000 of manufacturing overhead and $2,020,000 of direct labor cost for the year. After the year was over, the accounting records an allocation base indicated that the company had actually incurred $1,720,000 of manufacturing overnead and $2,550,000 of direct labor2. How much manufacturing overhead would have been allocated to manufacturing jobs during the year? 1. Calculate Joseph's predetermined manufacturing overhead rate, assuming that the company uses direct labor cost as cost 3. At year-end, was manufacturing overhead overallocated or underallocated? By how much? 1. Calculate Joseph's predetermined manufacturing overhead rate, assuming that the company uses direct labor cost as an allocation base. (Round the percentage to the nearest hundredth percent, X.XX.) Predetermined manufacturing overhead rate 2. How much manufacturing overhead would have been allocated to manufacturing jobs during the year? (Enter the percentage to the nearest hundredth percent, X.xx.) Manufacturing overhead allocated 3. At year-end, was manufacturing overhead overallocated or underallocated? By how much? Complete the T-account to determine the ending balance of manufacturing overhead. (Enter the ending balance on the last line of the T-account.) by $