Thompson manufactures wooden backyard playground equipment. Thompson estimated $1,845,000 of manufacturing overhead and $2,200,000 of direct labour cost for the year. After the year was over, the accounting records indicated that the company had actually incurred $1,800,000 of manufacturing overhead and $2,250,000 of direct labour cost. 1. Calculate Thompson's predetermined manufacturing overhead rate assuming that the company uses direct labour cost as an allocation base. 2. How much manufacturing overhead would have been allocated to manufacturing jobs during the year? 3. At year-end, was manufacturing overhead overallocated or underallocated? By how much? (Hint: Use a T-account to aid your analysis.) 1. Calculate Thompson's predetermined manufacturing overhead rate assuming that the company uses direct labour cost as an allocation base. (Round the percentage to two decimal places, X.XX%.) Predetermined manufacturing overhead rate % 2. How much manufacturing overhead would have been allocated to manufacturing jobs during the year? (Round interim calculations to two decimal places. Round your final answer to the nearest whole dollar.) Manufacturing overhead assigned % = ocated or underallocated? By how much? (Hint: Use a T-account to aid your analysis.) ance of manufacturing overhead. (Leave any unused cells blank.) Actual direct labour costs 3. Actual machine hours Estimated direct labour hours Estimated direct labour costs Estimated machine hours = Predetermined manufacturing overhead rate Choose from any list or enter any number in the input fields and then continue to the next question 3. At year-end, was manufacturing overhead overallocated or underallocated? By how much? (Hint: Use a T-account to aid your analysis.) Complete the T-account to determine the ending balance of manufacturing overhead. (Leave any unused cells blank.) Manufacturing Overhead (Actual) (Allocated) Manufacturing overhead is by $