The Heat 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 2017: Click the icon to view the following data.) Read the requirements. Requirement 1. Compute the budgeted manufacturing overhead rate for 2017. Begin by selecting the formula you will use. Then, enter the amounts and calculate the rate. Budgeted manufacturing overhead 4,500,000 Budgeted machine-hours 50,000 Budgeted manufacturing $ overhead rate 90 Requirement 2. Compute the under- or overallocated manufacturing overhead of Heat Radiator in 2017. 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 4,700,000 Manufacturing overhead $ Manufacturing overhead allocated = 5,400,000 underallocated (overallocated) = $ (700,000) a. Dispose of this amount using a write-off to Cost of Goods Sold. Show the account balances after the write-off. Account Balance Cost of Goods Sold Finished Goods Control Work-in-Process Control After Proration 10,550,000 2,250,000 1,500,000 b. Dispose of 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) x (Over-) Underallocated OH X X -700000 -700000 = -700000 Adjustment by selecting the formula you will use. Then, enter the amounts and calculate the rate. Budgeted manufacturing i Data Table - X i Requirements Budgeted manufacturing overhead costs $ 4,500,000 Overhead allocation base Machine-hours Budgeted machine-hours 50,000 Manufacturing overhead costs incurred $ 4,700,000 Actual machine-hours 60,000 Machine-hours data and the ending balances (before proration of under- or overallocated overhead) are as follows: turing overl 1. Compute the budgeted manufacturing overhead rate for 2017. 2. Compute the under- or overallocated manufacturing overhead of Heat Radiator in 2017. Dispose of this amount using the following: a. Write-off to Cost of Goods Sold b. Proration based on ending balances (before proration) in Work-in-Process Control, Finished Goods Control, and Cost of Goods Sold c. Proration based on the overhead allocated in 2017 (before proration) in the ending balances of Work-in-Process Control, Finished Goods Control, and Cost of Goods Sold 3. Which method do you prefer in requirement 2? Explain. Actual Machine-Hours 2017 End-of-Year Balance Cost of Goods Sold Finished Goods Control 42,000 $ 11,250,000 15,000 2,250,000 Work-in-Process Control 3,000 1,500,000 Print Done X Control, and Cost of Goods Sold. Begin by selecting the formula to calculate the adjustment to each accoun