Nestl incurs a total manufacturing overhead of $12,000,000. If the company's total machine hours are 100,000, calculate the predetermined overhead rate. How much overhead would

Nestlé incurs a total manufacturing overhead of $12,000,000. If the company's total machine hours are 100,000, calculate the predetermined overhead rate. How much overhead would be applied to a job at Nestlé that uses 2,500 machine hours? Prepare the balance sheet after the formation of the partnership.