Jamison Woodworking uses normal costing and allocates manufacturing overhead to jobs based on a budgeted labor-hour rate and actual direct labor-hours. Under- or overallocated overhead, if immaterial, is written off to Cost of Goods Sold. During 2020, Jamison recorded the following Requirements X 1. Compute the budgeted manufacturing overhead rate. 2. 3. Prepare the summary journal entry to record the allocation of manufacturing overhead. Compute the amount of under- or overallocated manufacturing overhead. Is the amount significant enough to warrant proration of overhead costs, or should Jamison Woodworking write it off to cost of goods sold? Prepare the journal entry to dispose of the under- or overallocated overhead. dgeted facturing ead rate Data table Budgeted manufacturing overhead costs $ 4.370.000 Budgeted direct labor-hours Actual manufacturing overhead costs Actual direct labor-hours 190.000 4.586.000 200.000 W