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Questions You are the accountant for Mon foc a manufacture of automobiles Mon Inc applies overhead using a pre determined overhead rate based on direct about houes At the beginning of the year manufacturing overhead was estimated to be $700.000 machine hours were estimated to be 13 000 hours and direct labour hours were stimated to be 500.000 by the of the year, the company actually used 178.000 machine hours, 516.000 direct labour hours and incurred 5712.000 in manufacturing overhead costs Part 1 Compute the company's pre-determined overhead rane (round wo decimal places) Part 2 Dutermine the amount and ladicate if the overhead is under-applied or over-appied for the period Part 3 How was the adjustment to fix the under applied or over applied overhead from Part 2 impact net locomo? (Increase of Decrease)