Hartley Woods manufactures jewelry boxes. The primary materials (wood, brass, and glass) and direct labor are assigned directly to the products. Manufacturing overhead costs are allocated based on machine hours. Data for 2018 follow: (Click the icon to view the cost data.) Read the requirements. Requirement 1. Compute the predetermined overhead allocation rate. Round to two decimal places. Estimated overhead cost Data table Estimated machine hours Estimated Actual Machine hours 28,960 hours 32,400 hours Maintenance labor (repairs to equipment) $ 14,000 $ 29.500 Plant supervisor's salary 45,000 49,000 Screws, nails, and glue 25,000 48,000 Plant utilities 47,000 90,850 Freight out 39,000 48,500 Depreciation on plant and equipment 87,200 80,000 Advertising expense 45,000 56,000 Requirements 1. Compute the predetermined overhead allocation rate. Round to two decimal places. 2. Post actual and allocated manufacturing overhead to the Manufacturing Overhead T-account. 3. Prepare the journal entry to adjust for underallocated or overallocated overhead. 4. The predetermined overhead allocation rate usually turns out to be inaccurate. Why don't accountants just use the actual manufacturing overhead rate? Print Done Predetermined overhead allocation rate per machine hour - X