Selected cost data for Antique Poster Co. are as follows:,Estimated manufacturing overhead cost for the year………… $ 120,000,Estimated direct labor cost for the year……………………… 100,000,Actual manufacturing overhead cost for the year……………. 90,000,Actual direct labor cost for the year………………………….. 71,000,Requirements,1. Compute the predetermined overhead allocation rate per direct labor dollar.,2. Prepare the journal entry to allocate overhead costs for the year.,3. Use a T-account to determine the amount of underallocated or overallocated manufacturing overhead.,4. Prepare the journal entry to adjust for the underallocated or overallocated manufacturing overhead.