Questions You are the accountant for Mon Inc a manufacture of automobiles Mon Inc appies overhead using a pre determined overhead rate based on direct labour hours At the beginning of the year manufacturing overhead was estimated to be $700,000, machine hours were estimated to be 125 000 tours and direct labour hours were stimated to be 500.000 by the end of the year, the company actually used 178.000 machine hours, 516.000 direct labour hours and incurred $712.000 in manufacturing overhead costs Part 1 Compute the company's predetermined overhead rate (round wo decimal places) Part 2 Dutermine the amount and ladicate the overhead is under-applied or over-applied for the period Part 3 How with adjustment to for the under applied or over applied overhead biom Part 2 impact niet locomo(Increase of Decrease