Requirement $1.$ Compute the budgeted overhead rates for the year in the Machining and Assembly Departments. $($Round your answers to the nearest whole$$ dollar.$)$

The budgeted overhead rate for the year in the Machining Department is $$$

$$

$57.$

The budgeted overhead rate for the year in the Assembly Department is $$$

$$

$58.$

Part $2$

Requirement $2.$ Compute the$$ under$-$ or overallocated overhead in each department for the year. Dispose of the$$ under$-$ or overallocated amount in each department using a$.$ immediate$$ write$-$off to Cost of Goods$$ Sold; b$.$ proration based on ending balances$($before proration$)$ in Cost of Goods$$ Sold, Finished$$ Goods, and$$ Work$-$in$-$Process; and c$.$ proration based on the allocated overhead amount$($before proration$)$ in the ending balances of Cost of Goods$$ Sold, Finished$$ Goods, and$$ Work$-$in$-$Process.

We will begin with a$.$ immediate$$ write$-$off to Cost of Goods Sold.

The first step is to find the$$ over$-$ or underallocated amounts for each department. Begin by selecting the formula and then enter the amounts for the Machining Department. $($Indicate an overallocated amount using parentheses or a minus$$ sign.$)$

Actual manufacturing overhead costs

$$

Manufacturing overhead allocated

$=$

Overallocation or underallocation

$$4,675,000$

$$

$$5,249,700$

$=$

$$(574,700)$

Part $3$

$$7,060,000$

$$

$$6,907,800$

$=$

$$152,200$

Part $4$

$$Now$,$ dispose of this amount using a$$ write$-$off to Cost of Goods Sold for the Machining Department. Show the account balances after the$$ write$-$off. $($Use parentheses or a minus sign for any subtractions. Enter a$"0"$ for any zero adjustments or$$ balances.$)$

Account Balance Before Proration

$+$

Adjustment

$=$

Account Balance After Proration

Cost of Goods Sold

$$21,300,000$

$+$

$(422,500)$

$=$

$$20,877,500$

Finished Goods Control

$2,400,000$

$+$

$0$

$=$

$2,400,000$

Work$-$in$-$Process Control

$7,300,000$

$+$

$0$

$=$

$7,300,000$

Part $5$

b$.$ Compute the$$ under$-$ or overallocated overhead in each department for the year. Dispose of the$$ under$-$ or overallocated amount in each department using proration based on ending balances$($before proration$)$ in Cost of Goods$$ Sold, Finished$$ Goods, and$$ Work$-$in$-$Process.$($When calculating the$$ prorations, round the interim proration ratio to eight decimal places as needed. Use parentheses or a minus sign for any subtractions. Round your final answers to the nearest whole$$ dollar.$)$

Account Balance

Prorated Underallocated or Overallocated Overhead Machining Dept.

Prorated Underallocated or Overallocated Overhead Assembly Dept.

Account Balance After Proration

WIP

$7,300,000$

FG

$2,400,000$

COGS

$21,300,000$

Total