Question Help 0 Tech Timepits custom ang material for corporations. The business was started January 1, 2017 The company uses a normal.costing system. It has two direct cost pools mals and labor and one indirect-cost pool overhead Overhead is changed to printing jobs on the basis of direct labor cost. The following information is available for 2017 Click the icon to view the following data) There were two obs in process on December 31, 2017 Job 11 and Job 12 Costs added to each bas of December 31 are as follows (Cick the icon to view the costs) Tech Time has no finished goods inventories because printing jobs are transferred to cost of goods sold when completed Read the rest Requirement 1. Compute the overhead alocation rate Select the formula and of the amounts to the overheation rate (or the rate in decimal format to one decimal place, XX Dowenler these as a percentage Omat allocation rate i Data Table .X $ $ Budgeted direct labor costs Budgeted overhead costs Costs of actual material used Actual direct labor costs Actual overhead costs $ 260,000 364,000 138,000 247,000 347 400 $ $ Print Done then click Check Answer i Data Table Direct materials Direct labor Job 11 $ $ 4.180 5,450 5,800 6,400 Job 12 $ $ Print Done 1. Compute the overhead allocation rate 2. Calculate the balance in ending work in process and cost of goods sold before any adjustments for under-or overallocated overhead 3. Calculate under-or overallocated overhead 4. Calculate the ending balances in work in process and cost of goods sold if the under-or overallocated overhead amount is as follows Written off to cost of goods sold b. Prorated using the overhead allocated in 2017 (before proration) in the ending balances of cost of goods sold and work-in-process control accounts 5. Which of the methods in requirement 4 would you choose? Explain. a. Print Dono