Question Help Metal Foundry in Boston, Massachusetts, ses a predetermined manufacturing overhead tate to allocate overhead to individual jobs based on the machine hours required. At the beginning of the year, the company expected to incur the folowing Click the icon to view the costs) Requirements 1. Compute Metals predetermined manufacturing overhead rate 2. How much manufacturing overhead was allocated to jobs during the year? 3. How much manufacturing overhead was incurred during the year? Is manufacturing overhead underallocated or overallocated at the end of the year? By how much? 4. Were the jobs overcosted or underoosted? By how much? Requirement 1. Compute Metal's predetermined manufacturing overhead rate Determine the formula to calculate the predetermined overhead rate the calculate the rate Predetermined overhead tate i Data Table - edn hine $ 580,000 Manufacturing overhead costs. Direct labor cost .. Machine hours... ra $ 1,600,000 72,500 At the end of the year, the company had actually incurred the following: s dy the ? Direct labor cost ..., ar? $ 1,250,000 ga Depreciation on manufacturing plant and equipment Property taxes on plant.. Sales salaries ... $ dra $ 495,000 19,500 23,500 $ $ Delivery drivers' wages. Plant janitors' wages. Machine hours. $ 16,500 9,500 57,000 hours er. Print Done