13

Selected cost data for Premium Print, Co. are as follows: E: (Click the icon to view the cost data.) Read the requirements. Requirement 1. Compute the predetermined overhead allocation rate per direct labor dollar. Predetermined overhead allocation rate Requirement 2. Prepare the journal entry to allocate overhead cost for the year. (Record debits first, then credits. Exclude explanations from journal entries.) Date Accounts Debit Credit Dec. 31 Selected cost data for Premium Print, Co. are as follows: (Click the icon to view the cost data.) Read the requirements. Requirement 3. Use a T-account to determine the amount of underallocated or overallocated manufacturing overhead. Start by posting the actual and allocated manufacturing overhead to the T-account (Use the first available cell to post each amount. Do not input the balance in the T-account) Manufacturing Overhead Manufacturing overhead is bys Requirement 4. Prepare the journal entry to adjust for the underallocated or overallocated manufacturing overhead. (Record de bits first, then credits. Exclude explanations from journal entries.) Date Accounts Debit Credit Dec. 31 X 1 Data Table Estimated manufacturing overhead cost for the year Estimated direct labor cost for the year Actual manufacturing overhead cost for the year Actual direct labor cost for the year $ 120,000 100.000 114,000 76,000 Print Done