Martinez Foundry in Charleston comma South Carolina$,$ 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:

Manufacturing overhead costs. $.......$

$$630,000$

Direct labor cost. $..................$

$$1,500,000$

Machine hours. $....................$

$90,000$

At the end of the$$ year, the company had actually incurred the$$ following:

Direct labor cost. $.....................................$

$$1,240,000$

Depreciation on manufacturing plant and equipment. $........$

$$475,000$

Property taxes on plant. $...............................$

$$20,500$

Sales salaries. $.......................................$

$$26,000$

Delivery drivers' wages. $...............................$

$$15,500$

Plant janitors' wages. $.................................$

$$8,000$

Machine hours. $......................................$

$57,000$ hours

$1.$

Compute Martinez's predetermined manufacturing overhead rate.

$2.$

How much manufacturing overhead was allocated to jobs during the$$ year?

$3.$

How much manufacturing overhead was incurred during the$$ year? Is manufacturing overhead underallocated or overallocated at the end of the$$ year? By how$$ much?

$4.$

Were the jobs overcosted or$$ undercosted? By how$$ much?