Alba Foundry uses a predeternined overhead allocation rate to allocate overhead to individual jobs, based on the machine hours required (Cick the icon to, view the costs) Read the tequitements Requirement 1. Compute Albas predetermined overhead allocatisn tate. Data table Requirements 1. Compute Alba's predetermined overhead allocation rate. 2. Prepare the journal entry to allocate manufacturing overhead 3. Post the manufacturing overhead transactions to the Manufacturing Overhead T-account. Is manufacturing overhead underallocated or overallocated? By how much? 4. Prepare the journal entry to adjust for the underallocated or overallocated manufacturing overhead. Does your entry increase or decrease Cost of Goods Sold