Problem #1: Chapter 3 (30 points) Consider the following selected cost data available for Dangerfield Inc. for 2018 (inthousands): S 80,000.00 Budgeted manufacturing overhead costs Budgeted machine hours 200 160 S 76,800.00 225 173 $ 4,275.00 $ 1,900.00 Budgeted direct labor hours Actual manufacturing overhead costs Actual machine hours Actual direct labor hours WIP Inventory balances FG Inventory balances COGS balances S 3,325.00 Dangerfield Inc. uses pre-determine manufacturing overhead allocation or normal costing.It allocates manufacturing overhead costs using a budgeted rate per direct labor hours. Any amount of under- or overapplied will be disposed to Cost of Goods Sold Inventory accounts. Required: 1. Calculate the predetermine manufacturing overhead rate or (POHR) 2. Calculate the manufacturing overhead allocated or applied during 2018 Prepare the journal entry to record the allocation of manufacturing overhead 3. The amount of under or overallocated (or under or overapplied) manufacturing overhead 4. 5. Prepare the necessary journal entry to dispose under-or overapplied