Brooks Foundry uses a predetermined overhead allocation rate to allocate overhead to individual jobs, based on the machine hours required. (Click the icon to viow the costs.) Requirements 1. Compute Brooks' predetermined overhead allocation rate. 2. Prepare the joumal entry to allocate manufacturing overhead. 3. Post the manufacturing overhead transactions to the Manulacturing Overhead Traccount. It manutacturing overhead underallocated or overallocated? By how mach? 4. Prepare the joumal entry to adjust for the underallocated or overallocated manufacturing overhead. Does your entry increase or decrease cost of goods sold? At the beginning of 2016 , the company expected to incur the following: At the end of 2016 , the company had actually incurred