QUESTION 2 Boohoohoo Inc. uses a job order costing system. The fixed manufacturing overhead for the year is $4,000,000. The company has decided to allocate the manufacturing overhead to products on the basis of machine hours. The estimated machine hours for the year are 500,000 hours. What is the pre-determine fixed overhead rate that will be used to apply fixed manufacturing overhead to products? Job # 999 has accumulated $20,000 of direct materials and $10,000 of direct labour costs. The rate per direct labour hour is $25. To complete Job #999, 1,000 machine hours were used. C42 How much manufacturing overhead will be applied to Job # 999 ? What is the total manufacturing cost of Job # 999? Job # 998 has accumulated $15,000 of direct materials and $60,000 of direct labour costs. The rate per direct labour hour is $25. To complete Job #998, 2,000 machine hours were used. How much manufacturing overhead will be applied to Job # 998 ? What is the total manufacturing cost of Job # 998 ? Job # 997 has accumulated $75,000 of direct materials and $125,000 of direct labour costs. The rate per direct labour hour is $20. To complete Job #997, 50,000 machine hours were used. How much manufacturing overhead will be applied to Job #997? What is the total manufacturing cost of Job # 997? At the end of the year Boohoohoo produced over 750 different jobs. Actual manufacturing overhead costs amounted to $4,800,000 instead of the $4,000,000 estimated at the beginning of the year. The actual machine hours amounted to 400,000 hours instead of the 500,000 hours estimated at the beginning of the year. How much fixed manufacturing overhead was applied to all 750+ jobs? Was the manufacturing overhead over or under applied? By how much was the manufacturing overhead over or under applied