Consider the following selected cost data for Schwarzmetal GmbH for 2019. Budgeted manufacturing overhead Budgeted machine-hours Actual manufacturing overhead Actual machine-hours 7 000 000 200 000 6 800 000 195 000 Schwarzmetal's job-costing system has a single manufacturing overhead cost pool (allocated using a budgeted rate based on actual machine-hours). Any amount of under- or overallocation is immediately written off to Cost of Goods Sold. Required 1 Calculate the budgeted manufacturing overhead rate. 2 Joumalise the allocation of manufacturing overhead 3 Calculate the amount of under- or overallocation of manufacturing overhead. Is the amount significant? Journalise the disposition of this amount on the basis of the closing balances in the relevant accounts Your answer: