Aba Foundry uses a predetermined overhead allocation rate to allocate overhesd to individual jobs, based on the machine hours required. (Click the icon to view the costs.) Read the requirements. Requirement 1. Compute Alba's predetermined overhead allocation rate. Alba Foundry uses a predetermined overhead allocation rate to allocate overhead to individual jobs, based on the machine hours required. Click the icon to view the costs.) Read the requirements. Is manufacturing overhead underallocated or overallocated? By how much? Manufacturing overhead is by Requirement 4. Prepare the joumal entry to adjust for the underallocated or overallocated manufacturing overhead. Does your entry increase or decrease cost of good then credits. Select the explanation on the last line of the joumal entry table.) Does your entry increase or decrease Cost of Goods Sold? This entry Cost of Goods Sold. Data table Aba Foundry uses a predetermined overhead allocation rate to allocate overhead to individual jobs, based on the machine hours required. Click the icon to view the costs.) Read the requirements. Requirement 1. Compute Alba's predetermined overhead allocation rate. Requirements 1. Compute Alba's predetermined overhead allocation rate. 2. Prepare the journal entry to allocate manufacturing overhead. 3. Post the manufacturing overhead transactions to the Manufacturing Overhead T-account. Is manufacturing overhead underallocated or overallocated? By how much? 4. Prepare the joumal entry to adjust for the underallocated or overallocated manufacturing overhead. Does your entry increase or decrease Cost of Goods Sold