Exercise 2-12 (Algo) Computing Predetermined Overhead Rates and Job Costs [LO2-1, LO2-2, LO2-3] Moody Corporation uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company made the following estimates: Machine-hours required to support estimated production Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour Required: 1. Compute the plantwide predetermined overhead rate. 160,000 $ 660,000 $ 4.60 2. During the year, Job 400 was started and completed. The following information was available with respect to this job: Direct materials Direct labor cost Machine-hours used $ 370 $ 300 34