Patel Foundry uses a predetermined overhead allocation rate to allocate overhead to individual jobs, based on the machine hours required. (Click the icon to view the costs.) Read the requirements Requirement 1. Compute Patel's predetermined overhead allocation rate Estimated overhead cost - 880,000 Estimated machine hours 80,000 Predetermined overhead allocation rate 11 per machine hour $ Requirement 2. Prepare the journal entry to allocate manufacturing overhead (Record debits first, then credits. Exclude explanations from any journal entries.) Date Accounts Debit Credit Dec. 31 Choose from any list or enter any number in the input fields and then click Check Answer te overhead to individual jobs, based on the machine hours required. i Data Table rate. urs At the beginning of 2018, the company expected to incur the following: Manufacturing overhead costs $ 880,000 Direct labor costs 1,520,000 Machine hours 80,000 hours overhea At the end of 2018, the company had actually incurred: Direct labor costs $ 1,210,000 570,000 Depreciation on manufacturing plant and equipment Property taxes on plant Sales salaries Delivery drivers' wages Plant janitor's wages Machine hours 36,000 30,000 25,000 23,000 62,000 hours Print Done then click Check