Hampton Roads, Trucking Company uses a predetermined overhead allocation rate to allocate overhead to individual jobs, based on the machine hours required. At the beginning of 2020, the company expected to incur the followings:

Manufacturing Overhead costs	$900,000
Direct labor costs	$1,500,000
Machine hours	$80,000

At the end of 2020, the Trucking Company had actually incurred:

Direct Labor Cost	$1,350,000
Depreciation on manufacturing plant and equipment	$550,000
Property Taxes on Plant	$40,000
Sales Salaries	$40,000
Driver's wages	$25,000
Plant Janitor's Wage	$30,000
Machine hours	75,000 hours

1. Compute Hampton Roads Trucking Company's predetermined overhead allocation rate?

2. Prepare the journal entry to allocate manufacturing overhead?