Exercise $2-12($Algo$)$ Computing Predetermined Overhead Rates and Job Costs $[$LO$2-1,$ LO$2-2,$ LO$2-3$

Moody Corporation uses a job$-$order costing system with a plantwide predetermined overhead rate based on machine$-$hours. At $1$ beginning of the year, the company made the following estimates:

$\backslash$table$[[$Machine$-$hours required to support estimated production,$155,000],[$Fixed manufacturing overhead cost,$$660,000$