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Assume that the manufacturer of hot air balloons uses a predetermined overhead rate system to apply manufacturing (factory) overhead to each job. Also assume that the company uses the following formula for calculating the manufacturing overhead rate. Predetermine manufactory overhead/predetermine labor cost =predetermined rate Answer the following questions. Show work for partial credit. a. What is the predetermined manufacturing overhead rate given predetermined manufacturing overhead of $2,400,000 and predetermined labor cost of $1,600,000? Predetermined manufacturing overhead rate $1,500,000. b. What is the amount of overhead applied to the jobs if the company uses $1,600,000 labor cost for applying overhead c. If the actual overhead for the year is $2,300,000. How much is the over or under applied manufacturing overhead Was the overhead over or under applied d. The document used to put raw materials into a job The document used to put direct labor into a job