Schulz Corporation applies overhead based upon machine hours. Budgeted factory overhead was $266,400 and budgeted machine hours were 18,500. Actual factory overhead was $250,820 and actual machine-hours were 19,050. Before disposition of under/overapplied overhead, the cost of goods sold was $560,000 and ending 1 inventories were as follows note: this question has 5 parts mo Cost of goods sold WIP Finished goods Total 560,000.00 190,000.00 250,000.00 1,000,000.00 8 a. Determine the budgeted factory overhead rate per machine-hour. 9 10 11 12 13 14 17 b. Determine the amount of applied overhead. 23 24 25 26 c. 27 Compute the over/under applied overhead. 28 29 30 31 32 d. Dispose of the variance using the write-off to cost of goods sold approach. Prepare the journal entry. What is the new balance of cost of goods sold? we. Dispose of the variance using the proration approach based on total ending balances. Prepare the journal entry. What is the new balance of each account