The Oliver Company manufactures products in two departments: Mixing and Packaging. The company allocates manufacturing overhead using a single plantwide rate with direct labor hours as the allocation base. Estimated overhead costs for the year are 720,000, and estimated direct labor hours are 320,000. In October, the company incurred 50000 direct labor hours.

Requirement 1. Compute the predetermined overhead allocation rate. Round to two decimal places. Begin by selecting the formula to calculate the predetermined overhead (OH) allocation rate. Then enter the amounts to compute the allocation rate. (Abbreviation used; qty = quantity.) =PredeterminedOHallocationrate Requirement 2. Determine the amount of overhead allocated in October. Begin by selecting the formula to allocate overhead costs. (Abbreviation used; qty = quantity.) The overhead allocated in October is