Sim Foundry in Columbus, Ohio, nes a predetermined manufacturing overhead rate to locatie overhead to endividual jobs based on the machine hours required. At the beginning of the year, the company expected to incut the following Co the conto the costs Requirements 1. Compute sme's premie maturing overhead rate 2. How much manufacturing overed was located to obscuring the year? How much manufacturing overticad was ecured during the year? Is mastutacturing overhead underatocated at everatocated at the end of the year? by how much? 4. Were the sovercasted or undercosted By how much Requirement 1. Computers predetermined manuturing overhead rate Determine the formula to calculate the permined over the rate the calculate the te Pretermined overhead te Requirement 1. Compute Smith's predetermined manufacturing overhead rate. Determine the formula to calculate the predetermined overhead rate, then calculate the rate Predetermined overhead ral n click Check Answer Estimated yearly direct labor cost CE Estimated yearly direct labor hours Estimated yearly machine hours 5 Estimated yearly overhead costs Clear All i Data Table X rs re Manufacturing overhead costs $ 630,000 Direct labor cost te $ 1,650,000 90,000 Machine hours. r? B At the end of the year, the company had actually incurred the following: Direct labor cost. $ 1,230,000 at Depreciation on manufacturing plant and equipment Property taxes on plant. $ 480,000 . . - . . $ 19,500 26,500 Sales salaries $ . - -- . Delivery drivers' wages Plant janitors' wages $ $ $ 17,000 8,500 56,500 hours Machine hours