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Claudio Ltd. 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: Budgeted manufacturing overhead costs $1,218,000 Budgeted machine hours 87,000 hours At the end of the year the company had actually incurred the following: CEO's salary Factory supervisor's salary Depreciation on factory equipment Factory maintenance worker's salary Property taxes on the factory Advertising costs Machine hours (actual) $336,000 $292,000 $585,000 $512,000 $73,000 $263,000 80,000 hours Using the above information answer the following questions. What is the company's predetermined manufacturing overhead rate? (Please apply the rounding rules!) A How much manufacturing overhead was allocated to jobs during the year? A How much manufacturing overhead was actually incurred during the year? A Is the manufacturing overhead underallocated or overallocated at the end of the year? Enter the number 1 if it is underallocated. Enter the number 2 if it is overallocated. Enter the number 3 if it is neither under-or overallocated. A What is the amount of the under- or overallocation? Enter your answer as a POSITIVE number. Were the jobs overcosted or undercosted? Enter the number 1 if they were overcosted. Enter the number 2 if they were undercosted. Enter the number 3 if their were neither over- or undercosted

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