Keenan makes handheld calculators in two models-basic and professional. Keenan estimated $1,149,500 of manufacturing overhead and 605,000 machine hours for the year. The basic model actually consumed 280,000 machine hours and the professional model consumed 325,000 machine hours. Keenan wants to refine its costing system by allocating overhead using departmental rates. The estimated $1,149,500 of manufacturing overhead has been divided into two cost pools-Assembly Department and Packaging Department. The following data have been compiled: (Click the icon to view the data.) Read the Requirement 1. Compute the predetermined overhead allocation rates using machine hours as the allocation base for the Assembly Department and direct labor hours for the Packaging Department. Begin by selecting the formula to calculate the predetermined overhead (OH) allocation rate. Then enter the amounts to compute the allocation rate for each department. (Enter the allocation rates to the nearest cent..) Data table Requirements 1. Compute the predetermined overhead allocation rates using machine hours as the allocation base for the Assembly Department and direct labor hours for the Packaging Department