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i Data Table At the beginning of 2024. the company expected to incur the following: Manufacturing overhead costs $850,000 Direct labor costs 1,450,000 Machine hours 85.000 hours At the end of 2024, the company had actually incurred: Direct labor costs Depreciation on manufacturing plant and equipment Property taxes on plant Sales salaries Delivery drivers' wages Plant janitor's wages Machine hours $1,250,000 560,000 W 36,500 26,500 23,000 19,000 62,000 hours Print Done i Requirements 1. Compute Jackson'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 journal entry to adjust for the underallocated or overallocated manufacturing overhead. Does your entry increase or decrease Cost of Goods Sold? Print Done Homework: Week #2 Chapter #2 Score: 0 of 1 pt EM2-24 (similar to) Jackson Foundry uses a predetermined overhead allocation rate to allocate overhead to individual jobs, based on th (Click the icon to view the costs.) Read the equament Requirement 1. Compute Jackson's predetermined overhead allocation rate, Predetermined overhead allocation rate per machine hour IL