Managerial Accounting

Diaz Corp uses a job order costing system with manufacturing overhead applied to products on the basis of machine hours. For the upcoming year, Diaz Corp estimated total manufacturing overhead cost at $270,000 and total machine hours of 45,000. During the year actual manufacturing overhead incurred was $258,750 and 46,600 machine hours were used. a. Calculate the predetermined overhead rate. b. Calculate how much manufacturing overhead will be applied to production. C. Is overhead over- or underapplied? By how much? d. What account should be adjusted for over- or underapplied overhead? Should the balance of the account be increased or decreased