mation II Spring 2023 pter 3 Question 8, E3-27A (similar to) Part 1 of 6 Reema almalki HW Score: 29.23%, 2.92 of 10 points O Points: 0 of 1 Save Flores Foundry in Rochester, New York, 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 beginning of year estimated costs.) At the end of the year, the company had actually incurred the following: (Click the icon to view the actual end of year costs.) Read the requirements Requirement 1. Compute Flores' predetermined manufacturing overhead rate. Determine the formula to calculate the predetermined overhead rate, then calculate the rate. Predetermined overhead rate the icon to view the actual end of year costs.) requirements. ment 1. Compute Flores Beginning of year estimated costs e the formula to calcula Manufacturing overhead costs Direct labor cost Machine hours. 640,000 $ 1,600,000 80,000 Print Done - X the end of the year, the company had actually incurred the following: (Click the icon to vi ead the requirements Actual end of year costs equirement 1. Comp etermine the formula Direct labor cost. $ 1,170,000 Depreciation on manufacturing plant and equipment.. $ 500,000 Property taxes on plant... 18,500 Sales salaries... 26,000 Delivery drivers' wages. $ 16,500 Plant janitors' wages. Machine hours. $ 11,000 54,000 hours Print Done - X (Click the icon to view the actual end of year costs.) d the requirements quirements Requirements quirement 1. Comp ermine the formula 1. Compute Flores' 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? Print Done - X