Homework: M 7 Homework Part 1 of 4 Score: 0 of 10 points Save A-Graded The Orel Company manufactures products in two departments: Mixing and Packaging. The company allocates manufacturing overhead using a single plantwide rate with direct labor hours as the allocation base. Estimated overhead costs for the year are $575,000, and estimated direct labor hours are 250,000. In October, the company incurred 60,000 direct labor hours. Read the requirements Requirement 1. Compute the predetermined overhead allocation rate. Round to two decimal places, Begin by selecting the formula to calculate the predetermined overhead (OH) allocation rate. Then enter the amounts to compute the allocation rate. Predetermined OH allocation rate - Requirements 1. Compute the predetermined overhead allocation rate. Round to two decimal places. 2. Determine the amount of overhead allocated in October. Print Done