1. Young Foundry uses a predetermined overhead allocation rate to allocate overhead to (4) individual jobs. based on the machine hours required.Al the beginning of 20 I 8. the company expected LO incur the following:

Manufacturing overhead costs $ 840.000

Direct labor costs 1.480.000 Machine hours 70.000 hours

Al the end of 2018.thecompany h:td actually incurred:
Direct labor COSIS	$ 1.230.000
Depreciation on manufacturing plantand equipment	620.000
Property Laxes on plant	35.500
Sales salaries	26.000
Delivery drivers' wages	22.500
Plantjanitors wages	17.000
Machine hours	60.000 hours

Reguired :

1. Compute Young's predc1em1incdoverheadallocationrate.
2. Prepare thejournal entry 10 allocate manufacturing overhead.
3. Post themanufacturing overhead transactions to the Manufacturing Overhead T. account. Is manufacturing overhead under allocated or over allocated? By how much?
4. Prepare the journal entry to adjust for the under allocated or over allocated nrnnufncturing overhead. Does your entry increase or decrease Cost of Goods Sold?