Washburn Company produces earbuds. During the year, manufacturing overhead costs were $222,000. Machine usage was 2,500 hours. The company assigns overhead based on machine hours. Job No. 551 used 90 machine hours. Compute the predetermined overhead rate. (Round answer to 2 decimal places, e.g. 5.25.) Predetermined overhead rate $ Determine the amount of overhead to allocate to Job No. 551. (Round answer to 0 decimal places, e.g. 5,275.) Overhead assigned $ Prepare the entry to assign overhead to Job No. 551 on January 15. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answer to 0 decimal place, e.g. 55.) Date Account Titles and Explanation Debit Credit Jan. 15 (To assign overhead to jobs)