Martinez Foundry in Altanta, Georgia, 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: Requirement 1. Compute Martinez's predetermined manufacturing overhead rate, Martinez's predetermined manufacturing overhead rate is per machine hour Requirement 2. How much manufacturing overhead was allocated to jobs during the year? The amount of manufacturing overhead allocated to jobs during the year is Requirement 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? The amount of manufacturing overhead incurred during the year was Manufacturing overhead was by Requirement 4. Were the jobs overcosted or undercosted? By how much? Jobs were by Manufacturing overhead costs. .... $ 590,000 Direct labor cost ... $ 1,300,000 Machine hours.. 73,750 At the end of the year, the company had actually incurred the following: $ 1,210,000 495,000 Direct labor cost .... Depreciation on manufacturing plant and equipment Property taxes on plant Sales salaries... $ 19,000 26,500 16,500 Delivery drivers' wages. Plant janitors' wages... Machine hours. $ 10,000 55,000 hours