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Accounting Principles P20.4A (LO 3. 5) Agassi Company uses a job order cost system in each of its three manufacturing departments. Manufacturing overhead is applied to jobs on the basis of direct labor cost in Department D, direct labor hours in Department E, and machine hours in Department K. In establishing the predetermined overhead rates for 2020, the following estimates were made for the year. Compute predetermined overhead rates, apply overhead, and calculate under- or overapplied overhead. Department D E Manufacturing $1,200,000 $1,500,000 $900,000 overhead Direct labor $1,500,000 $1,250,000 $450,000 costs Accounting Principles overhead rates, apply overhead, and calculate under-or overapplied overhead. Department D E Manufacturing $1,200,000 $1,500,000 $900,000 overhead Direct labor $1,500,000 $1,250,000 $450,000 costs Direct labor 100,000 125,000 40,000 hours Machine 400,000 500,000 120,000 hours During January, the job cost sheets showed the following costs and production data. Department D E K Direct $140,000 $126,000 $78,000 materials used Direct labor $120,000 $110,000 $37,500 costs Manufacturing $ 99,000 $124,000 $79,000 overhead incurred Accounting Principles costs Manufacturing $ 99,000 $124,000 $79,000 overhead incurred Direct labor 8,000 11,000 3,500 hours Machine 34,000 45,000 10,400 hours Instructions a. Compute the predetermined overhead rate for each department 80%, $12, $7.50 b. Compute the total manufacturing costs assigned to jobs in January in each department. $356,000, $368,000, $193,500 c. Compute the under-or overapplied overhead for each department at January 31. $3,000, $(8,000). $1,000