2. KidzToys Manufacturing applies overhead based upon machine-hours. The company reported the following information in 2020: Before disposition of under/overapplied overhead, the cost of goods sold was $849,000 and ending inventories were as follows: Required: a. Determine the budgeted factory overhead rate per machine-hour. ( 2 points) b. Compute the over/underapplied overhead. (3 points) c. Prepare the journal entry to dispose of the variance using the write-off to cost of goods sold approach. (2 points) d. Prepare the journal entry to dispose of the variance using the proration approach. ( 3 points)