Kody Corporation uses a job-order costing system with a plantwide overhead rate based on machine-hours. At the beginning of the year, the company made the following estimates: Required: Compute the predetermined overhead rate. (Round your answer to 2 decimal places.) Predetermined overhead rate During the year Job 500 was started and completed. The following information was available with respect to this job: Compute the total manufacturing cost assigned to Job 500. (Round your intermediate calculations to 2 decimal places and final answer to the nearest dollar amount.) Total manufacturing cost During the year the company worked a total of 145,000 machine-hours on all jobs and incurred actual manufacturing overhead costs of $1.231.750. What is the amount of underapplied or overapplied overhead for the year? (Input the amount as a positive value. Round your intermediate calculations to 2 decimal places and final answer to the nearest dollar amount.) Manufacturing overhead cost (Click to select) $ by If this amount were closed out entirely to Cost of Goods Sold, would the journal entry increase or decrease net operating income? Increase Decrease