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Meed Company estimates the company will incur $66,400 in overhead costs and 4,150 direct labor hours during the year. Actual direct lab and prepare the journal entry for the allocation of overhead Calculate the predetermined overhead allocation rate. Fill in the labels and complete the formula below. Predetermined overhead allocation rate per direct labor hour Prepare the journal entry for the allocation of overhead First, select the formula to calculate the overhead costs allocated. Fill in the labels and complete the formula below. Allocated overhead costs X Prepare the journal entry for the allocation of overhead (Record debits first, then credits. Exclude explanations from any journal entries.) Date Accounts Debit Credit Cost of Goods Sold Finished Goods Inventory Manufacturing Overhead Raw Materials Inventory Wages Payable Choose fro Work-in-Process Inventory ontinue to the next question. Meed Company estimates the company wil incur $66.400 in overhead costs and 4 150 dead labor hours during the year. Actual direct labor hours were calculate the predetermined overhead location rate using director hours as the and prepare the ouma entry for the allocation of Overhead Calculate the predetermined overhead location rate