Waldman Pools manufactures swimming pool equipment. Waldman estimates total manufacturing overhead costs next year to be $1,500,000. Waldman also estimates it will use 20.000 direct labor hours and incur $1,000,000 of direct labor cost next year. In addition, the machines are expected to be run for 30,000 hours. Compute the predetermined manufacturing overhead rate for next year under the following independent situations: 1. Assume that the company uses direct labor hours as its manufacturing overhead allocation base. 2. Assume that the company uses direct labor cost as its manufacturing overhead allocation base. 3. Assume that the company uses machine hours as its manufacturing overhead allocation base. 1. Compute the predetermined manufacturing overhead rate for next year assuming that the company uses direct labor hours as its manufacturing overhead allocation base. Identify the formula and compute the predetermined manufacturing overhead rate for next year using direct labor hours as the manufacturing overhead allocation base. Predetermined manufacturing Actual manufacturing costs 11 Actual direct labor hours overhead rate 1500000 per DL hour 2. Compute the predetermined manufacturing overhead rate for next year assuming that the company uses direct labor cost as its manufacturing overhead allocation base. Identify the formula and compute the predetermined manufacturing overhead rate for next year using direct labor cost as the manufacturing overhead allocation base. (Enter the rate as a whole percent.) Predetermined manufacturing overhead rate % of DL cost 3. Compute the predetermined manufacturing overhead rate for next year assuming that the company uses machine hours as its manufacturing overhead allocation base. Identify the formula and compute the predetermined manufacturing overhead rate for next year using machine hours as the manufacturing overhead allocation base. Predetermined manufacturing overhead rate per machine hr