6. (10 points) Consider the following selected cost data for the Charles Forging Company for 2022. Budgeted manufacturing overhead costs $7,500,000 Budgeted machine-hours 250,000 Actual manufacturing overhead costs $7,300,000 Actual machine-hours 245,000 The company uses normal costing. Its job-costing system has a single manufacturing overhead cost pool. Costs are allocated to jobs using a budgeted machine-hour rate. Any amount of under- or overallocation is written off to Cost of Goods Sold. Compute the budgeted manufacturing overhead rate. Prepare the journal entries to record the allocation of manufacturing overhead. (Question 6 continued) Compute the amount of under- or over-allocation of manufacturing overhead. Is the amount under- or over- applied? d. Prepare a journal entry to dispose of the under- or over- applied amount. Any amount of under- or overallocation is written off to Cost of Goods Sold