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Abbott Pools manufactures swimming pool equipment. Abbott estimates total manufacturing overhead costs next year to be $1,200,000. Abbott also estimates it will use 50.000 direct labor hours and incur $1,000,000 of direct labor cost next year. In addition, the machines are expected to be run for 40,000 hours. Read the requirements. 1. Compute the predetermined manufacturing overhead rate for next year assuming that the company uses direct labor hours as its manufacturing overhead allocation base. Identify the formula and compute the predetermined manufacturing overhead rate for next year using direct labor hours as the manufacturing overhead allocation base. Predetermined manufacturing Actual manufacturing costs Actual direct labor hours = overhead rate 1244 0 0 per DL hour 2. Compute the predetermined manufacturing overhead rate for next year assuming that the company uses direct labor cost as its manufacturing overhead allocation base. Identify the formula and compute the predetermined manufacturing overhead rate for next year using direct labor cost as the manufacturing overhead allocation base. (Enter the rate as a whole percent.) Actual manufacturing costs Actual manufacturing costs Predetermined manufacturing overhead rate 0 % of DL cost 0 3. Compute the predetermined manufacturing overhead rate for next year assuming that the company uses machine hours as its manufacturing overhead allocation base. Identify the formula and compute the predetermined manufacturing overhead rate for next year using machine hours as the manufacturing overhead allocation base. Predetermined manufacturing = Actual manufacturing costs 0 Actual manufacturing costs 0 overhead rate 0 per machine hr