K The Zaf Radiator Company uses a normal-costing system with a single manufacturing overhead cost pool and machine-hours as the cost-allocation base. The following data are for 2020: (Click the icon to view the following data.) Data table Budgeted manufacturing overhead costs $ 4,800,000 Overhead allocation base Machine-hours Budgeted machine-hours 60,000 Manufacturing overhead costs incurred $ 4,900,000 Actual machine-hours 55,000 Machine-hours data and the ending balances (before proration of under- or overallocated overhead) are as follows: Cost of Goods Sold Finished Goods Control Work-in-Process Control Actual Machine-Hours 44,000 9,000 2,000 2020 End-of-Year Balance 12,000,000 2,625,000 375,000 The Zaf Radiator Company uses a normal-costing system with a single manufacturing overhead cost pool and machine-hours as the cost-alloca (Click the icon to view the following data.) Read the requirements. a. Adjust for this amount using a write-off to Cost of Goods Sold. Show the account balances after the write-off. Account Balance After Proration Cost of Goods Sold Finished Goods Control Work-in-Process Control 500000 500000 500000 b. Adjust for the amount using a proration based on ending balances (before proration) in Work-in-Process Control, Finished Goods Control, and Coste the adjustment to each account. Then enter the amounts in the formula. (Enter the proportions as a decimal to three decimal places, "XXXX". Use a mi and adjustments to be subtracted.) COGS FG WIP Ending Balance Adjustment c. Adjust for the amount using a proration based on the overhead allocated in 2020 (before proration) in the ending balances of Work-in-Process Control, Finished Goods Control, and Cost of Goods Sold Begin by selecting the formula to calculate the adjustment to each account. Then enter the amounts in the formula (Enter the proportions as a decimal to three decimal places, "XXX" Use a minus sign or parentheses to show overallocated amounts and adjustments to be subtracted) COGS FG WIP Now enter the account balances after the write-off Cost of Goods Sold Account Balance After Proration Adjustment Finished Goods Control Work-in-Process Control Requirement 3. Which method do you prefer in requirement 27 Explain Alternative is theoretically preferred over This alternative yields the same ending balances in work in process, finished goods, and cost of goods sold that would have been reported The Zaf Radiator Company uses a normal-costing system with a single manufacturing overhead cost pool and machine-hours as the cost-allocation base. The following data are for 2020 Click the loon to view the following data) Read the ment Requirement 1. Compute the budgeted manufacturing overhead rate for 2020 Begin by selecting the formula you will use. Then, enter the amounts and calculate the rate Budgeted manufacturing overhead Budgeted machine-hours Budgeted manufacturing overhead rate 4800000 60000 BO Requirement 2. Compute the under- or overallocated manufacturing overhead of Zaf Radiator in 2020 Begin by selecting the formula you wil use. Next, enter the amounts in the formula and compute the under- or overallocated manufacturing overhead (Use parentheses or a minus sign when entering overatocated amounts) Manufacturing overhead incuned Manufacturing overhead allocated Manufacturing overhead underallocated (overallocated) 4000000 4400000 500000 a. Adjust for this amount using a write-off to Cost of Goods Sold. Show the account balances after the write-off Cost of Goods Sold Finished Goods Control Account Balance After Proration 500000 500000