Sakai Creative Example Sakai Creative uses normal costing and allocates manufacturing overhead to jobs based on a budgeted labor- hour rate and actual direct labor-hours. The following is information for during 2017. Budgeted manufacturing overhead costs Actual Budgeted labor hours Actual manufacring overhead costs Actual labor hours 3,248,000 116,000 3,125,000 126,380 At the end of the fiscal year, actual overhead cost is computed as the above. Compute the budgeted manufacturing overhead rate (predetermined overhead rate) and create a journal entry. Compute the amount of under or overallocated manufacturing overhead. Under or overallocated overhead, if immaterial, is written off to Cost of Goods Sold. Show a journal entry