Budgeted manufacturing overhead costs $ 5,100,000 Overhead allocation base Machine-hours Budgeted machine-hours 85,000 Manufacturing overhead costs incurred $ 5,150,000 Actual machine-hours 90,000 Machine-hours data and the ending balances (before proration of under- or overallocated overhead) are as follows: Actual Machine-Hours 2020 End-of-Year Balance Cost of Goods Sold 63,000 8,750,000 3,125,000 Finished Goods Control 18,000 Work-in-Process Control 9,000 625,000 The Solar Radiator Company uses a normal-costing system with a single manufacturing overhead cost pool and machine-hours as the cost-allocation base. The following data are for 2020: (Click the icon to view the following data.) Read the requirements. Requirements Requirement 1. Compute the b Begin by selecting the formula y 1. Compute the budgeted manufacturing overhead rate for 2020. 2. Compute the under- or overallocated manufacturing overhead of Solar Radiator in 2020. Adjust for this amount using the following: a. Write-off to Cost of Goods Sold b. Proration based on ending balances (before proration) in Work-in-Process Control, Finished Goods Control, and Cost of Goods Sold c. Proration based on the overhead allocated in 2020 (before proration) in the ending balances of Work-in-Process Control, Finished Goods Control, and Cost of Goods Sold 3. Which method do you prefer in requirement 2? Explain. Print Done