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Consider the following selected cost data for the David Forging Company for 2019. Budgeted manufacturing overhead costs Budgeted machine-hours Actual manufacturing overhead costs Actual machine-hours $7,500,000 250,000 $7,300,000 245,000 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. a. Compute the budgeted manufacturing overhead rate. b. Prepare the journal entries to record the allocation of manufacturing overhead. C. 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