Weiters Company produces uniforms. The company allocates manufacturing overhead based on the machine hours each job uses. Weiters Company reports the following cost data for the past year: Requirement 1. Compute the predetermined manufacturing overhead rate. Enter the formula for predetermined manufacturing overhead rate, then compute the rate =Predetermined overhead rate per machine hour Requirement 2. Calculate the allocated manufacturing overhead for the past year. Manufacturing overhead allocated Requirement 3. Compute the underallocated or overallocated manufacturing overhead. How will this underallocated or overallocated manufacturing overhead be disposed of? First calculate the preliminary manufacturing overhead balance using the T-account Manufacturing Overhead EQ Core Close the under- or overallocated overhead to Cost of Goods Sold by journalizing the entry (Record debits first, then credits Exclude explanations from any journal entries.) Date Journal Entry Accounts Debit Credit Requirement 4. How can managers use accounting information to help control manufacturing overhead costs? To help control manufacturing overhead, managers compare the actual line item amounts for with the budgeted amounts. Managers will also investigate only differences between actual and budgeted amounts to identify the reasons why actual costs