Data table machine hours req Alba Foundry uses a predetermined overhead allocation rate to allocale overhead to indmidual jobs, based on the machine hours required. (Click the ioon to view the costs.) Requirements 1. Compute Aba's predetermined overhead allocation rate. 2. Prepare the joumal entry to allocate manufacturing overhead. 3. Post the manufacturing overtwoad transactions to the Manufacturing Overhead T-account. Is manufacturing overhead underallocated or overallocated? By how much? 4. Prepare the journal entry to adjust for the underallocated or overallocated manufacturing overhead. Does your entry incroase or decrease cost of goods sold? Requirement 1. Compute Aba's predetermined overhead allocation rate. Requirement 2. Prepare the joumak entry to allocate manufacturing overhead. (Rocord debits first, then credits. Exclude explanations from any joumal entries.) Requirement 3. Post the mamufacturing overhead transactions to the T-account and calculate the balance. (Enter amounts in the order they appoar in the cost data using the first available line in the T-account. Enter the ending balance on the last line.) Is manutacturing overhead underallocated or overallocated? By how much? Manufacturing overhead is by 5 Requirement 4. Prepare the journal entry to adjust for the underallocatod or overallocated manufacturing overhead. Does your entry incroase or decrease cost of goods sold? (Recond debits first, then credis. Exclude explanations from any joumal entries.) Does your entry increase or decrease cost of goods sold? This entry cost of goods sold