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Selected cost data for Wayne Company are as follows: Estimated manufacturing overhead cost for the year $ 630,000 Estimated direct labor cost for the year

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Selected cost data for Wayne Company are as follows: Estimated manufacturing overhead cost for the year $ 630,000 Estimated direct labor cost for the year 450,000 Actual manufacturing overhead cost for the year 680,000 Actual direct labor cost for the year 490,000 Requirements 1. Compute the predetermined overhead allocation rate per direct labor dollar. 2. Prepare the journal entry to allocate overhead cost for the year

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