Problem II. Stark Industries 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 2015 overhead costs Overhcad allocation base Budgeted machine-hours Manufac Actual machine-hours $4,800,000 Machine-hours 80,000 $4,900,000 75,000 overhead costs incurred Machine-hours data and the ending balances (before proration of under- or oxcrallocated overhead) are as follows: Cost of Goods Sold Finished Goods Control Work in Process Control Actual Machinc-Hours 60,000 11,000 4,000 2015 End-of-Year Balance $8,000,000 1,250,000 750,000 1. Compute the budgeted manufacturing overhead rate for 2015 2. Compute the under- or ovcrallocated manufacturing overhead of Stark Industries in 2015