Requirement 2. Prepare the journal entry to allocate overhead costs for the year. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Dec. 31 Work-in Process Inventory 46,250 Manufacturing Overhead 46,250 Data Table Estimated manufacturing overhead cost for the year Estimated direct labor cost for the year Actual manufacturing overhead cost for the year Actual direct labor cost for the year $ 125,000 78,125 119,000 74,000 Print Done Selected cost data for Antique Print, Co. are as follows: Click the icon to view the cost data) Read the requirements Requirement 1. Compute the predetermined overhead allocation rate per direct labor dollar. Predetermined overhead Estimated overhead cost Estimated direct labor cost allocation rate 125,000 78,125 160 Requirement 2. Prepare the journal entry to allocate overhead costs for the year. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Credit Dec, 31 Work-in-Process Inventory 46.250 Manufacturing Overhead 46.250 Debit - X Data Table $ 125,000 78,125 Estimated manufacturing overhead cost for the year Estimated direct labor cost for the year Actual manufacturing overhead cost for the year Actual direct labor cost for the year 119,000 74,000 Print Done