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3. Assignment (8 points) A company has three manufacturing divisions (listed below). Each division has...

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3. Assignment (8 points) A company has three manufacturing divisions (listed below). Each division has its own job order costing system and forecasts the following manufacturing costs for the upcoming year: Wayne Monroe Yates Materials to be used 120,000 100,000 80,000 (lbs. Direct labor hours 45,000 60,000 25,000 Machine hours 40,000 25,000 15,000 Total budgeted MOC $50,000 $70,000 $45,000 The predetermined overhead rates for each division are based on the following: Wayne Division: Machine hours Monroe Division: Materials used Yates Division: Direct labor hours a. Compute the predetermined MOC rate to be used by each division, b. If the Wayne Division actually had 37,000 machine hours and $49,000 of MOC, will overhead be over- or underapplied and by how much? c. If the Monroe Division used 95,000 pounds of materials, what will be the applied MOC

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