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2. KidzToys Manufacturing applies overhead based upon machine-hours. The company reported the following information in 2020 Budgeted Actual Factory overhead $455,000 $475,000 Machine-hours 25,400 ml 26,100 mh Before disposition of under/overapplied overhead, the cost of goods sold was $849,000 and ending inventories were as follows: Direct materials WIP Finished goods Total $135,000 269,000 376.000 $780.000 Required: a. Determine the budgeted factory overhead rate per machine-hour (2 points) b. Compute the over/underapplied overhead. (3 points) Prepare the journal entry to dispose of the variance using the write-off to cost of goods sold approach (2 points) d. Prepare the journal entry to dispose of the variance using the proration approach (3 points)