Selected cost data for Classic Print Co$.$ are as follows

$($Click the icon to view the cost data.$)$

Read the requirements.

Requirement $1.$ Compute the predetermined overhead allocation rate per direct labor dollar

$\backslash$table$[[$Estimated overhead cost,$-,$Predetermined overhead$],[$Estimated direct labor cost,allocation rate,,$]]$

Requirement $2.$ Prepare the journal entry to allocate overhead costs for the year. $($Record debits first, then credits. Select the explanation on the last line of the journal entry table$)$

Data table

$\backslash$table$[[$Estimated manufacturing overhead cost for the year $,$$$,125,000,],[$Estimated direct labor cost for the year,$78,125],[$Actual manufacturing overhead cost for the year,$116,000],[$Actual direct labor cost for the year,$67,000]]$