Surplus Woods manufactures wwelry boxes. The primary materials (wood, brass, and glass) and direct labor are assigned directly to the products. Manufacturing overhead costs are allocated based on machine hours. Data for 2014 follow (Click the icon to view the cost data) Requirements 1. Compute the predetermined overhead allocation rate. 2. Post actual and allocated manufacturing overhead to the Manufacturing Overhead T-account 3. Prepare the journal entry to adjust for under located or overallocated overhead 4. The predetermined overhead allocation rate usually turns out to be inaccurate. Why don't accountants just use the actual manufacturing overhead rato? Data Table X Estimated Actual Machine hours 26,500 hours 12,000 $ 43,000 32,800 hours $ 26,500 44,000 46,000 91,850 Maintenance labor (repairs to equipment) Plant supervisor's salary Screws, nails, and glue Plant utilities Freight out Depreciation on plant and equipment Advertising expense 23,000 49,000 35,000 85,000 41,000 47,500 82,000 54,000 Print Done