PLEASE EXPLAIN HOW TO CALCULATE THIS ANSWER. WITHOUT EXCEL. THANK YOU!

John Lewis Manufacturing is a small manufacturer that uses machine hours as its activity base for assigned overhead costs to jobs. Listed below are data for the current year.

Budgeted overhead $880,000

Actual overhead $910,000

Budgeted machine hours 40,000

Actual machine hours 41,000

Instructions - As you provide answers to the following, be sure to properly express the answer, i.e., some answers are in dollars, and some are not. You are NOT required to provide calculations.

1. Numerator for predetermined overhead rate.

2. Denominator for predetermined overhead rate.

3. Predetermined overhead rate.

4. Applied manufacturing overhead

5. Amount of under- or over-applied overhead

6. Write Under or Over to identify whether overhead

was under or over applied.

7. Identify the account debited to close out the immaterial under/overapplied overhead. Do not abbreviate; write out the entire account name.

8. Identify the account credited to close out the immaterial under/overapplied overhead. Do not abbreviate; write out the entire account name.

1. $880,000
2. 40,000
3. $22 per hour
4. $902,000
5. 8,000
6. Under
7. Cost of Goods Sold
8. Manufacturing Overhead