Smith Foundry uses a predetermined manufacturing overhead rate to allocate overhead to individual jobs based on the machine hours required. At the beginni year, the company expected to incur the following: (Click the icon to view the costs.) Smith's accountant found an error in the expense records from the year reported. Depreciation on manufacturing plant and equipment was actually $364,000, no $480,000 that had originally been reported. The unadjusted Cost of Goods Sold balance at year-end was $610,000. The manufacturing overhead allocated to jot $395,500. Read the recuirements. Requirement 1. Prepare the journal entry (entries) to record manufacturing overhead costs incurred. (Record debits first, then crecita. Exchice esplarations from ar journal entries.) Data table At the end of the vear. the company had actually incurred the following: Smith Foundry uses a predetermined manufacturing overhead rate to allocate overhead to individual jobs based on the machine hours required. At the beginni year, the company expected to incur the following: (Click the icon to view the costs.) Smith's accountant found an error in the expense records from the year reported. Depreciation on manufacturing plant and equipment was actually $364,000, no $480,000 that had originally been reported. The unadjusted Cost of Goods Sold balance at year-end was $610,000. The manufacturing overhead allocated to jot $395,500. Read the recuirements. Requirement 1. Prepare the journal entry (entries) to record manufacturing overhead costs incurred. (Record debits first, then crecita. Exchice esplarations from ar journal entries.) Data table At the end of the vear. the company had actually incurred the following