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Please help with requirements :) Patel Foundry in Austin, Texas, uses a prede the company expected to incur the following: termined manufacturing overhead rate to

Please help with requirements :)

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Patel Foundry in Austin, Texas, uses a prede the company expected to incur the following: termined manufacturing overhead rate to allocate overhead to individUal jobs based on the machine hours required/tr the beginning of the year, a (Click the icon to view the beginning of year estimated costs.) At the end of the year, the company had actually incurred the following: a (Click the icon to view the actual end of year Costs.) Read the r_e_quirements. Manufacturing overhead costs ........ $ 590,000 Direct labor cost ................... $ 1,300,000 Machine hours ..................... 73,750 Requirement 1. Compute Patel's predetermined manufacturing overhead rate. Determine the formula to calculate the predetermined overhead rate, then calculate the rate. + = Predetermined overhead rate Actual end of year costs Direct labor cost ..................................... $ 1,190,000 Compute Patel's predetermined manufacturing overhead rate. ' _ Depreciation on manufacturing plant and equipment ......... $ 465,000 ' 2. How much manufacturing overhead was allocated to Jobs dunng the year? Property taxes on plant ................................ $ 20,000 . $ 25,500 ................... 5 17.000 Plant janitors' wages .................................. S 11,000 ' 3. How much manufacturing overhead was incurred during the year? Is manufacturing overhead underallocated or overallocated at the and of the year? By how much? l 4' Were the jobs overcosted or undercosted? By how much? 1 Sales salaries ................................. Delivery drivers' wages .......... l Machine hours ....................................... 54,000 hours

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