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 $864,000, and estimated direct labor hours are 360,000. In October, the company incurred 10,000 direct labor hours. Read the requirements. 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. Predetermined OH Estimated overhead costs Estimated qty of the allocation base allocation rate 11 Requirement 2. Determine the amount of overhead allocated in October. Begin by selecting the formula to allocate overhead costs. Allocated mfg. Predetermined OH allocation rate x Actual qty of the allocation base used = overhead costs The overhead allocated in October is $