E19-19 Allocating and adjusting manufacturing overhead Selected cost data for Antique Poster Co. are as follows: 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 Requirements $ 120,000 100,000 90,000 71,000 1. Compute the predetermined overhead allocation rate per direct labor dollar. 2. Prepare the journal entry to allocate overhead costs for the year. 3. Use a T-account to determine the amount of underallocated or overallocated manufacturing overhead. 4. Prepare the journal entry to adjust for the underallocated or overallocated manufacturing overhead.