Metal Foundry in Boston, Massachusetts, 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 Metal's predetermined manufacturing overhead rate. Determine the formula to calculate the predetermined overhead rate, then calculate the rate. Beginning of year estimated costs Actual end of year costs