32923,10:02PM At the beginning of 2024, the company expected to incur the following: At the end of 2024, the company had actually incurred: astion list Smith Foundly uses a predotomined overhead allocation rato to allocate overhead to individual iobs, based on the machine hours required. EIt (Click the ioon to view the cosis.) Read the requirements. Requirements 1. Compute Smith's proditormined overhead allocation rate. 2. Prepare the journal entry to allocate manufacturing owothod. 3. Post the manufacturing ovorhead tansactions to the Manulacturing Overhead Tacocunt. Is manufacturing oveihead undorallocatod or overallocatod? By how much? 4. Propare the joumal entry to adjust for the underallocated or overallocated manulacturing overhead, Doos your entry heroase or docrease Cost of Goods Sold? Smith Foundry uses a predetermined overhead allocation rate to allocate overhead to individual jobs, based on the machine hours required. (Click the icon to view the costs.) Read the requirements. Requirement 1. Compute Smith's predetermined overhead allocation rate