2. Stanley Company produces specialized safety devices. For the year, manufacturing overhead costs are expected to be $160,000. Expected machine usage is 40,000 hours. The company assigns overhead based on machine hours. Job No. 302 used 2,000 machine hours. Compute the predetermined overhead rate, determine the amount of overhead to allocate to Job No. 302, and prepare the entry to assign overhead to Job No. 302 on March 31. * (T)