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Question 27 Graham Manufacturing is a small manufacturer that uses machine-hours as its activity base for assigned overhead costs to jobs. The company estimated the following amounts for 2019 for the company and for Job 62: Company Job 62 Direct materials $60,000 $4,500 Direct labor $25,000 $2,500 Manufacturing overhead costs $72,000 Machine hours 90,000 1,350 During 2019, the actual machine-hours totaled 95,000, and actual overhead costs were $71,000. Compute the predetermined overhead rate. (Round answer to 2 decimal places, e.g. 52.75.) Predetermined overhead rate per machine hour Compute the total manufacturing costs for Job 62. Total manufacturing costs How much overhead is over or underapplied for the year for the company? State amount and whether it is over-or underapplied Overhead If Graham Manufacturing sells Job 62 for $14,000, compute the gross profit. Gross profit