Moody Corporation uses a job-order costing system with a plantwide overhead rate based on machine-hours. At the beginning of the year, the company made the following estimates: 151,000 5,000 S 4.80 Machine-hours required to support Fixed manufacturing overhead cost Variable manufacturing overhead cost Required: 1. Compute the predetermined overhead rate. (Do not round intermediate calculations. Round your answer to 2 decimal places.) per MH 2. During the year, Job 400 was started and completed. The following information was available with respect to this job: Direct materials 300 250 Direct labor cost Compute the total manufacturing cost assigned to Job 400. (Do not round intermediate calculations and round final answer to 2 decimal places.) 3- During the year the company worked a total of 145,200 machine-hours on a. all jobs and incurred actual manufacturing overhead costs of $1,333,128. What is the amount of underapplied or overapplied overhead for the year? (Use the overhead rate determined in requirement 1.) 3- If this amount were closed out entirely to Cost of Goods Sold, would net b. operating income increase or decrease? Increase