Smith Foundry 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: E: (Click the icon to view the beginning of the year information.) At the end of the year, the company had actually incurred the following: 3 (Click the icon to view the ending of the year information.) Requirements 1. Compute Smith's 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? Requirement 1. Compute Smith's predetermined manufacturing overhead rate. Determine the formula to calculate the predetermined overhead rate, and then calculate the rate. (Round your answer to the nearest whole dollar.) = Predetermined overhead rate per machine hour Requirement 2. How much manufacturing overhead was allocated to jobs during the year? Select the labels for the formula to calculate the overhead to be allocated, and then calculate the manufacturing overhead allocated. Manufacturing x overhead allocated 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? Complete the following table to determine the total manufacturing overhead costs. (Leave any unused cells blank.) Total manufacturing overhead Is manufacturing overhead underallocated or overallocated at the end of the year? By how much? Manufacturing overhead was by $ Beginning of the year information -X $ Manufacturing overhead cost Direct labour cost Machine hours 652,000 1,500,000 81,500 hours Print Done i End of the year information x Direct labour cost. Depreciation on manufacturing plant and equipment Property taxes on plant. Sales salaries Delivery drivers' wages Plant janitors' wages Machine hours 1,180,000 512,000 21,500 26,000 17,000 10,500 66,500 hours Print Done