Patel Foundry in Toledo, Ohio, uses a predetermined manufacturing overhead rate to allocate overhead to individual jobs based on the machine hours required. At the begining of the year, the company expected to incur the following: At the end of the year, the company had actually incurred the following:

Requirements

Compute Patel Foundry's predetermined manufacturing overhead rate.

How much manufacturing overhead was allocated to jobs during the year?

How much manufacturing overhead was incurred during the year? Is manufacturing

overhead underallocated or overallocated at the end of the year? By how much?

Were the jobs overcosted or undercosted? By how much?