Predetermined overhead rateManufacturing overhead will be applied to productionIs overhead over or underapplied? By how much?What account should be adjusted for over or under applied overhead? Should the balance be increased or decreased?

https://getproctorio.com/secured#lockdown Enabled: ACCT2020 Exam #1: Ch... Saved Help Save & Exit Submit Chloe Corp. uses a job order costing system with manufacturing overhead applied to products on the basis of direct labor hours. For the upcoming year, Chloe Corp. estimated total manufacturing overhead cost at $480,000 and total direct labor hours of 40,000. During the year actual manufacturing overhead incurred was $462,500 and 41,000 direct labor hours were used. (a) Calculate the predetermined overhead rate. 0:42 09 Predetermined Overhead Rate per hour Book (b) Calculate how much manufacturing overhead will be applied to production. Manufacturing Overhead Applied