Homework: HW #2 - Chapter 3 Save Score: 0 of 1 pt 2 of 10 (2 complete) HW Score: 10%, 1 of 10 pts S3-9 (similar to) Question Help Lawrence Industries manufactures wooden backyard playground equipment. Lawrence estimated 1. Calculate Lawrence's predetermined manufacturing overhead rate, assuming that the company uses $1,860,000 of manufacturing overhead and $2,060,000 of direct labor cost for the year. After the year was direct labor cost as an allocation base. over, the accounting records indicated that the company had actually incurred $1,740,000 of manufacturing 2. How much manufacturing overhead would have been allocated to manufacturing jobs during the year? overhead and $2,550,000 of direct labor cost. 3. At year-end, was manufacturing overhead overallocated or underallocated? By how much? 1. Calculate Lawrence's predetermined manufacturing overhead rate, assuming that the company uses direct labor cost as an allocation base. (Round the percentage to the nearest hundredth percent, X.XX.) Predetermined manufacturing Actual direct labor cost overhead rate Actual manufacturing overhead costs 1,860,000 $ $ 2,060,000 90 %