(Click the icon to view the costs.) 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? 4. Were the jobs overcosted or undercosted? By how much? Data Table Manufacturing overhead costs ........$ 630,000 Direct labor cost . $ 1,650,000 Machine hours. 90,000 At the end of the year, the company had actually incurred the following: 1,230.000 Direct labor cost. Depreciation on manufacturing plant and equipment Property taxes on plant 480,000 19,500 Data Table | At the end of the year, the company had actually incurred the following: 1,230,000 Direct labor cost .... Depreciation on manufacturing plant and equipment Property taxes on plant Sales salaries.... Delivery drivers' wages. Plant janitors' wages. Machine hours. 480,000 19,500 26,500 17.000 8,500 56,500 hours Print Done Requirement 1. Compute Smith's predetermined manufacturing overhead rate. Determine the formula to calculate the predetermined overhead rate, then calculate the rate, - Predetermined overhead rate