Zapata makes handheld calculators in two models: basic and professional. Zapata estimated $1,053,000 of manufacturing overhead and 585,000 machine hours for the year. The basic model actually consumed 160,000 machine hours, and the professional model consumed 425,000 machine hours. Requirements 1. Compute the predetermined overhead alocation rate using machine hours (MHr) as the alocation base. 2. How much overhead is allocated to the basic model? To the professional model? Requirement 1. Compute the predetermined overhead allocation rate using machine hours as the allocation base. Select the formula, and then enter the amounts to compute the predetermined overhead (OH) allocation rate. (Enter your answer to the nearest cent.) +1+1=PredeterminedOHallocationrate= Requirement 2. How much qeerhead is allocated to the basic model? To the professional model? Select the formula, and then enter the amounts to compute the ovechead (OH) allocated to the basic model and the professional model