QUESTION 2 Tom's Manufacturing, a small costume manufacturer, uses machine-hours as the allocation base to allocate manufacturing overhead costs to the various jobs contracted during the year. The company uses a normal costing system. Estimates are provided for the year for the company and actual amounts are given for the Nomad Theatre (NT) job which required the production of ballet tutus. Direct materials Direct labor Manufacturing overhead costs Machine-hours Company Budget Year $44,000 $11,000 $25,000 100.000 mhrs NT Job Actual Costs $1,000 $200 $300 1,200 mhis What is the overhead allocation rate $/allocation base? What is the amount allocated to NT job? What is the total cost of the NT job under normal costing? Is there overallocated or underallocated overhead, yes or no? You must use $ when appropriate. Do not include commas in your answer. Present $1,000 as $1000. Please use exact presentation of allocation base as stated in the