Problem 50(want text answer with in 10 min) Allocating and adjusting manufacturing overhead Selected cost data for Classic Print Co. are as follows: Requirements Compute the predetermined overhead allocation rate per direct labor dollar. Prepare the journal entry to allocate overhead costs for the year. Use a T-account to determine the amount of underallocated or overallocated manufacturing overhead. Prepare the journal entry to adjust for the underallocated or overallocated manufacturing overhead. Problem 50(want text answer with in 10 min) Allocating and adjusting manufacturing overhead Selected cost data for Classic Print Co. are as follows: Requirements Compute the predetermined overhead allocation rate per direct labor dollar. Prepare the journal entry to allocate overhead costs for the year. Use a T-account to determine the amount of underallocated or overallocated manufacturing overhead. Prepare the journal entry to adjust for the underallocated or overallocated manufacturing overhead