1. Consider the following selected cost data for the Clypton Company for 2019.

Budgeted manufacturing overhead costs $1,500,000

Budgeted machine-hours 150,000

Actual manufacturing overhead costs $1,300,000

Actual machine-hours 125,000

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.

1. Compute the budgeted manufacturing overhead rate. (1pt)
2. Calculate the manufacturing overhead allocated during 2019. (1pt)
3. Compute the amount of under- or overallocation of manufacturing overhead. Is the amount material? Prepare a journal entry to dispose of this amount. (2pts)