- X Requirements X Beginning of year estimated costs 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 costs $ 580,000 manufacturing overhead underallocated or overallocated at the end of $ the year? By how much? Direct labor cost . . . .. .. 1,600,000 4. Were the jobs overcosted or undercosted? By how much? Machine hours. . . 72,500 Print Done Print DoneYoung Foundry in Altanta, Georgia, uses a predetermined manufacturing overhead rate to allocate overhead to individual jobs based on the machine hours required. At the beginning of the year, the company expected to incur the following: g (Click the icon to view the beginning of year estimated costs.) At the end ofthe year, the company had actually incurred the following: a (Click the icon to view the actual end of year costs.) Read the muirements. Determine the formula to calculate the predetermined overhead rate, then calculate the rate. Estimated yearly overhead costs + Estimated yearly machine hours = Predetermined overhead rate $ 580,000 + 72,500 = $ 8 per machine hour Requirement 2. How much manufacturing overhead was allocated to jobs during the year? Determine the formula to calculate the overhead to be allocated, then calculate the manufacturing overhead allocated. Manufacturing x = overhead allocated