P19-31A Accounting for manufacturing overhead Prestige Woods manufactures jewelry boxes. The primary materials (wood, brass and glass) and direct labor are assigned directly to the products. Manufacturing overhcad costs are allocated based on machine hours. Data for 2018 follow: Estimated Actual 27,000 hours 32,100 hours Machine hours Maintenance labor (repairs to equipment) Plant supervisor's salary Screws, nails, and glue Plant utilities Freight out Depreciation on plant and equipment Advertising expense $17,000 $23,500 48,000 28,000 44,000 37,000 85,400 46,000 50,000 45,000 92,850 49,500 83,000 53,000 Requirements 1. Compute the predetermined overhead allocation rate. Round to two de places. head Post actual and allocated manufacturing overhead to the Manufacturing Over T-account. 2. head. 3. Prepare the journal entry to adjust for underallocated or overallocated over 4. The predetermined overhead allocation rate usually turns out to be inaccurate. Why don't accountants just use the actual manufacturing overhead rate