Question: Please answer. Consider the following selected cost data for the Inosanto Poultry Company for 2022. Budgeted Manufacturing overhead P 7,000,000 Budgeted machine hours 200,000 Actual

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Consider the following selected cost data for the Inosanto Poultry Company for 2022. Budgeted Manufacturing overhead P 7,000,000 Budgeted machine hours 200,000 Actual manufacturing overhead P 6,800,000 Actual machine hours 195,000 Inosanto's job-costing system has a single manufacturing overhead cost pool. Cost are allocated to jobs using a budgeted machine-hour rate and actual machine-hour. Any amount of under- or overallocation is written-off to costs of goods sold. a. The budgeted manufacturing overhead rate is b. The journal entry for the allocation of manufacturing overhead will be

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