The Cozy Radiator Company uses a normal-costing system with a single manufacturing overhead cost pool and machine-hours as the cost-allocation base. The following data are for 2020: (Click the icon to view the following data.) Read th Data table Requir Begin b Bu $ Requir Begin b entering $ Man a. Adju Budgeted manufacturing overhead costs $ 5,100,000 Overhead allocation base Machine-hours Budgeted machine-hours 85,000 Manufacturing overhead costs incurred $ 5,150,000 Actual machine-hours 90,000 Machine-hours data and the ending balances (before proration of under- or overallocated overhead) are as follows: Cost of Goods Sold Finished Goods Control Actual Machine-Hours 2020 End-of-Year Balance Cost of Goods Sold 63,000 $ 8,750,000 Finished Goods Control 18,000 3,125,000 Work-in-Process Control 9,000 625,000 0,300,000 3,125,000 Print Done head. (Use parentheses or a minus sign when The Cozy Radiator Company uses a normal-costing system with a single manufacturing overhead cost pool and machine-hours as the cost-allocation base. The following data are for 2020: (Click the icon to view the following data.) Read the requirements. Requirement 1. Compute the budgeted manufacturing overhead rate for 2020. Begin by selecting the formula you will use. Then, enter the amounts and calculate the rate. Budgeted manufacturing overhead $ 5,100,000 Budgeted machine-hours 85,000 Budgeted manufacturing overhead rate 60 Requirement 2. Compute the under- or overallocated manufacturing overhead of Cozy Radiator in 2020. Begin by selecting the formula you will use. Next, enter the amounts in the formula and compute the under- or overallocated manufacturing overhead. (Use parentheses or a minus sign when entering overallocated amounts.) Manufacturing overhead incurred Manufacturing overhead allocated Manufacturing overhead underallocated (overallocated) $ 5,150,000 5,400,000 (250,000) a. Adjust for this amount using a write-off to Cost of Goods Sold. Show the account balances after the write-off. Cost of Goods Sold Finished Goods Control Account Balance After Proration 8,500,000 3,125,000 a. Adjust for this amount using a write-off to Cost of Goods Sold. Show the account balances after the write-off. Cost of Goods Sold Finished Goods Control Work-in-Process Control Account Balance After Proration 8,500,000 3,125,000 625,000 b. Adjust for the amount using a proration based on ending balances (before proration) in Work-in-Process Control, Finished Goods Control, and Cost of Goods Sold. Begin by selecting the formula to calculate the adjustment to each account. Then enter the amounts in the formula. (Enter the proportions as a decimal to three decimal places, "X.XXX". Use a minus sign or parentheses to show overallocated amounts and adjustments to be subtracted.) COGS FG WIP Proportion (decimal) (Over-) Underallocated OH 0.7 x 0.25 x 0.05 x Now enter the account balances after the write-off. Account Balance Adjustment (250,000) = $ (175,000) (250,000) = (250,000) (62,500) (12,500) Cost of Goods Sold Finished Goods Control Work-in-Process Control $ After Proration 8,575,000 3,062,500 612,500 c. Adjust for the amount using a proration based on the overhead allocated in 2020 (before proration) in the ending balances of Work-in-Process Control, Finished Goods Control, and Cost of Goods Sold. Begin by selecting the formula to calculate the adjustment to each account. Then enter the amounts in the formula. (Enter the proportions as a decimal to three decimal places, "X.XXX". Use a minus sign or parentheses to show overallocated amounts and adjustments to be subtracted.) COGS FG WIP x x Adjustment