The manufacturing records for Cool Canoes at the end of the 2024 fiscal year show the following information about manufacturing overhead: Overhead allocated to production 380,000 Actual manufacturing overhead costs 427,000 Predetermined overhead allocation rate $38 per machine hour Read the faculromania Requirement 1. How many machine hours did Cool Canoes use in 2024? = Actual machine hours Requirement 2. Was manufacturing overhead overallocated or underallocated for the year, and by how much? Manufacturing overhead is by Requirement 3. Prepare the journal entry to adjust for the underallocated or overallocated manufacturing overhead (Record debits first, then cre Accounts and Explanation Dec 31 Date Debit Credit