Problem 43(want text and need answer with brief explanation) The Oakman Company manufactures products in two departments: Mixing and Packaging. The company alloca manufacturing overhead using a single plantwide rate with direct labor hours as the allocation base. Estimated overhead costs for the year are $810,000, and estimated direct labor hours arc 360,000. In October, the company incurred 20,000 direct labor hours. Requirements Compute the predetermined overhead allocation rate. Round to two decimal places. Determine the amount of overhead allocated in October