Problem 5 Paul Company used a predetermined overhead rate based on an estimate of 22,000 directa hours to be worked during the year and an estimated $77,000 of manufacturing overhead Actual overhead cost and activity during the year were: Actual manufacturing overhead cost incurred $90,000 Actual direct labor hours worked 25,000 a. Compute the predetermined OH rate. b. Compute the OH allocated. c. Compute the over or underallocated OH. d. Prepare the journal entries to allocate OH, to record actual OH (credit A/P), and to close the OH