Kimberlee Corporation manufactures custom cabinets for kitchens. It uses a normal costing system with The following information is available as of December 31, 2017, two direct cost categories direct materials and direct manufacturing labor and one indirect-cost pool,ER (Click the icon to view the information.) manufacturing overhead costs. It provides the following information about manufacturing overhead costs for 2017 Requirement Calculate the underallocated or overallocated manufacturing overhead at the end of 2017 and prorate it to Work-in-Process Control, Finished Goods Control, and Cost of Goods Sold accounts based on the allocated manufacturing overhead in each account balance using normal costing. (click the icon to view the manufacturing overhead cost information for 2017.) Begin by calculating the budgeted indirect cost rate. Identify the formula and then calculate the rate. (Assume the cost allocation base is direct labor hours.) Budgeted manufacturing overhead costs 1,260,000 Budgeted labor hours Budgeted indirect cost rate 36,000 35 The manufacturing overhead allocated during the year is$ 980,000 Identify the formula and calculate the underallocated or overallocated manufacturing overhead. (Use parentheses or a minus sign to report overhead overallocated.) Underallocated (overallocated) indirect costs 280,000 Actual indirect costs incurred Indirect costs allocated 1,260,000 980,000 Finally, prorate the underallocated or overallocated manufacturing overhead to Work-in-Process Control, Finished Goods Control, and Cost of Goods Sold accounts based on the allocated manufacturing overhead in each account balance using normal costing. (Enter percentages to one decimal point, XX%. Abbreviations used: MOH = manufacturing overhead) Account Manufacturing Overhead in Each MOH Account Balance (Before Account Balance Allocated in the as a Percent Proration Balance (After) Enter any number in the edit fields and then click Check