Patel Foundry in Philadelphia, Pennsylvania, 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 E (Click the icon to view the costs.) Read the requirements. Requirement 1. Compute Patel's predetermined manufacturing overhead rate. Patel's predetermined manufacturing overhead rate is per machine hour Requirement 2. How much manufacturing overhead was allocated to jobs during the year? The amount of manufacturing overhead allocated to jobs during the year is Requirement 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? Manufacturing overhead was The amount of manufacturing overhead incurred during the year was by Data Table Requirement 4. Were the jobs overcosted or undercosted? By how much? Jobs were by Manufacturing overhead costs $ 600,000 Direct labor cost $ 1,650,000 Machine hours.................. 75,000 At the end of the year, the company had actually incurred the following $ 1,250,000 $ 485.000 S 21,500 Direct labor cost ... Depreciation on manufacturing plant and equipment Property taxes on plant Sales salaries. Delivery drivers' wages. Plant janitors' wages.. Machine hours..... S 26,500 S 15,500 S 10,000 56,500 hours Print Done