The manufacturing records for Portage Canoes at the end of the 2018 fiscal year show the following information about manufacturing overhead: Overhead allocated to production $ 405,000 Actual manufacturing overhead costs 429,000 Predetermined overhead allocation rate $ 45 per machine hour Read the requirements, Requirement 1. How many machine hours did Portage Canoes use in 2018? = Actual machine hours Requirement 2. Was manufacturing overhead overallocated or underallocated for the year, and by how much? Manufacturing overhead is bys C Requirement 3. Prepare the journal entry to adjust for the underallocated or overallocated manufacturing overhead. (Record debits first, then credits. Exclude explanations from any journal entries.) Date Accounts Debit Credit Dec. 31