Smith Foundry in Columbus, Ohio, uses a predetermined manufacturing overhead rate to allocate overhead to individual jobs based on the machine hours required. At the beginning of the year, the company expected to incur the following: Click the icon to view the costs.) Read the requirements Requirement 1. Compute Smith's predetermined manufacturing overhead rale. Smith's predetermined manufacturing overhead rate is per machine hour Requirement 2. How much manufacturing overhead was allocated to jobs during the year? The amount of manufacturing overhead allocated to jobs during the year is Requirement 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? The amount of manufacturing overhead incurred during the year was Manufacturing overhead was Requirement 4. Were the jobs overdosted or undercosted By how much? Jobs were by > Data Table Manufacturing overhead costs ...... $ 620,000 Direct labor cost. $ 1,700,000 Machine hours... 77,500 At the end of the year, the company had actually incurred the following: $ 1,190,000 $ 470,000 Direct labor cost ....... Depreciation on manufacturing plant and equipment Property taxes on plant Sales salaries Delivery drivers' wages Plant janitors' wages Machine hours $ 22,000 $ 24,500 $ 14,500 8,500 54,000 hours