Reguirement 1. Compute the predetermined overhead allocation rate per direct labor dollar. Data Table Predatermined overhead allocation rate % Estimaled manufacturing averhead cost far the year S 120,000 aled dreat labor cost for the year Requirement 2, Prepare the jaumal entry ta alacate averhead cost r the year. (Record debits first, then credits. Exclude explanatians fram jaumal entries.) the vear Debl Date Accounts Credit Actual direct labor cost for the year 88 000 Dec. 31 Print Done Requirement 3. Use a T-account to determine the amount of underalocated or overallocated manufacturina overhead. Start by posting the actual and allocated manufacturing overhead 1o ti T-account, Use the first available.cell to cost each amount, Do nat incut the balance in the T-aocount. Manufacturing Overhead by Manufacturing overheed is Requirement 4. Prepare the journal entry to adjust for the underallocated or overallocated manufacturing overhead. (Record debits first, then credits. Exclude explanations from journal entries.) Debit Date Accounts Credit Dec. 31