The Lulu Company uses a normal job-costing system at its Minneapolis plant. The plant has a machining department and an assembly department. Its job-costing system has two direct-cost categories (direct materials and direct manufacturing labor) and two manufacturing overhead cost pools (the machining department overhead, allocated to jobs based on actual machine-hours, and the assembly department overhead, allocated to jobs based on actual direct manufacturing labor costs). The 2020 budget for the plant is as follows: Data Table Requirements 1. Identify the components of the overview diagram of Lulu's job-costing system. Compute the budgeted manufacturing overhead rate for each department. 2. During February, the job-cost record for Job 494 contained the following: Machining Department Assembly Department Manufacturing overhead Direct manufacturing labor costs Direct manufacturing labor-hours Machining Department Assembly Department 2,200,000 $ 3,800,000 1,100,000 $ 2,000,000 100,000 230,000 $ $ Machine-hours 50,000 230,000 Direct material used 44,000 $ 72,000 Direct manufacturing labor costs 11,000 $ 12,000 Direct manufacturing labor-hours 1,200 1,700 Machine-hours 2,700 1,600 Compute the total manufacturing overhead costs allocated to Job 494. 3. At the end of 2020, the actual manufacturing overhead costs were $2,400,000 in machining and $5,600,000 in assembly. Assume that 56,000 actual machine-hours were used in machining and that actual direct manufacturing labor costs in assembly were $2,200,000. Compute the over- or underallocated manufacturing overhead for each department. Print Done