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Selected cost data for Classic Print Co. are as follows (Click the icon...

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Accounting

Selected cost data for Classic Print Co. are as follows
(Click the icon to view the cost data.)
Read the requirements.
Requirement 1. Compute the predetermined overhead allocation rate per direct labor dollar
\table[[Estimated overhead cost,-,Predetermined overhead],[Estimated direct labor cost,allocation rate,,]]
Requirement 2. Prepare the journal entry to allocate overhead costs for the year. (Record debits first, then credits. Select the explanation on the last line of the journal entry table)
Data table
\table[[Estimated manufacturing overhead cost for the year ,$,125,000,],[Estimated direct labor cost for the year,78,125],[Actual manufacturing overhead cost for the year,116,000],[Actual direct labor cost for the year,67,000]]
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