Jubilee Company applies manufacturing overhead on the basis of machine-hours. On December 31, the company's manufacturing overhead control T-account included the following amounts for the whole year. Manufacturing Overhead Control 4,922,021 5,300,000 At the beginning of the year, management estimated overhead to be $5 million and the allocation base to be 250,000 machine-hours. Required: 1. Compute the predetermined overhead rate for the year. How many machine-hours were actually consumed during the year? Predetermined overhead rate Machine-hours consumed $ 20 Per MH 2. What is the amount of actual overhead cost incurred for the year? Actual overhead cost 3. At the end of the year, did the company over-apply or under-apply overhead, and by how much? The company overhead by < Prev 12 of 13 Next