The Overman Compary manutactures products in two departments: Moing and Packaging The company was alocating manufacuring overhead using a single plantwide rate of \$2. 23 with drect labor hours as the allocation base. The compary has nefined is alocation syssem by separating manulacturing overhead costs into two cost pools-one for each depadreent. The estimated costs for the Mring Departinem, 8598,500 , will be alocated basod on drect laber hours, and the estraled direct labor hours for the year are 160,000 . The estmated costs for the Packaging Depariment, $243,000, will be alocated based en machine hours, and the estimated machine hours for the yoar are 60,000 . in October, the cempary incuned 46,000 direct labor hours is the Mixing Departhent and 7,000 machine hours in the Packaging Department Riead the fequrements. Requiremeat 1. Conpule the predoiemaned orethed alocation rates Round is two decimal places. Begin by selecting the formula to calculate the predetermined overtead (OH) alscaion rate. Then enter be amounts to computs the aliocation rate for oach department Requirement 2. Defermine the lotal amount of overheat aliocated in October. Begn by selectng the formila to allooste everhead costs