Date: 02/16/20 4. Taylor Company uses normal costing. It allocates manufacturing overhead costs using a budgeted rate per machine-hour. The following data are available for 2017: (Click the icon to view the data.) Read the requirements Requirement 1. Calculate the budgeted manufacturing overhead rate. Determine the formula, then calculate the budgeted manufacturing overhead rate. - Budgeted manufacturing overhead rate Requirement 2. Calculate the manufacturing overhead allocated during 2017 Determine the formula, then calculate the manufacturing overhead allocated during 2017 (3) (4) = Manufacturing overhead allocated Requirement 3. Calculate the amount of under-or overallocated manufacturing overhead. Why do Taylor's managers need to calculate this amount? The manufacturing overhead is (5) (5) by $ bys to Why do Taylor's managers need to calculate this amount? of the Taylor's managers need to calculate the under-or overallocated manufacturing overhead at the (6) These adjustments (8) the year because the overhead costs allocated are based on (7) - reported income used to evaluate managerial performance. 1: Data Table Budgeted manufacturing overhead costs Budgeted machine-hours Actual manufacturing overhead costs Actual machine-hours $3,800,000 200,000 $ 3,660,000 196,000 2: Requirements 1. Calculate the budgeted manufacturing overhead rate. 2. Calculate the manufacturing overhead allocated during 2017 3. Calculate the amount of under-or overallocated manufacturing overhead. Why do Taylor's managers need to calculate this amount? O Budgeted manufacturing overhead (1) O O Actual machine-hours O Actual manufacturing overhead O Budgeted machine-hours O Budgeted manufacturing overhead (2) O O Actual machine-hours O Actual manufacturing overhead O Budgeted machine-hours O Budgeted manufacturing overhead O Budgeted manufacturing overhead rate (3) O Actual machine-hours O Actual manufacturing overhead O Budgeted machine-hours O Budgeted manufacturing overhead O Budgeted manufacturing overhead rate (4) O Actual machine-hours Actual manufacturing overhead O Budgeted machine-hours (5) O overallocated O underallocated (6) O beginning O end (7) O actual amounts O estimates (8) O affect O do not affect