The Orzo 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 overtiead costs for the year are $744,000, and estimated direct labor hours are 310,000 . In October, the company incurred 40,000 direct labor hours. Read the Requirement 1. Compute the predetermined overhead allocation rate. Round to two decirmal places. Bogin by selecting the formula to calculate the predetermined overhead (OH) allocation rate. Then enter the amounts to compute the allocation rate. Requirement 2. Determine the amount of overhead allocated in October. Begin by selecting the formula to alocate overhead costs. The overhead allocated in October is