Hamed Company uses a a job casting system with machine hours as the allocation base for overhead. The following data are available for the last accounting period: Estimated fixed factory overhead cost Estimated m.chine hours Actual fixed factory overhead cost incurred Actual machine hours used S160,000 100,000 $170,000 110,000 Jobs worked on: Job Ne Machine Hours Led 1020 12,000 1030 18,000 1040 15,000 1050 10,000 Compute the estimated overhead allocation rate. b. Determine the overhead allocated to job 1040