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 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 4,875,000 Budgeted machine-hours 65,000 Budgeted manufacturing overhead rate 75 Requirement 2. Compute the under- or overallocated manufacturing overhead of Heat 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 overallcated amounts.) Question Viewer Manufacturing overhead Manufacturing overhead incurred 5125000 Manufacturing overhead allocated underallocated (overallocated) The Heat Radiator Company uses a normal-costing system with a single manufacturing overhead cost pool and machine-hours as the cost-allocation base (Click the icon to view the following data.) Data Table Reaure iramente Data table Requir Begin Bu $ Requir Begin enterin Budgeted manufacturing overhead costs $ 4,875,000 Overhead allocation base Machine-hours, Budgeted machine-hours 65,000 Manufacturing overhead costs incurred $ 5,125,000 Actual machine-hours 60,000 - X Machine-hours data and the ending balances (before proration of under- or overallocated overhead) are as follows: 2020 End-of-Year Balance Cost of Goods Sold Man Finished Goods Control Work-in-Process Control Actual Machine-Hours 51,000 $ 7,000 2,000 Print Done 10,625,000 1,250,000 625,000 head. (Us p Requirements - D 1. Compute the budgeted manufacturing overhead rate for 2020. 2. Compute the under- or overallocated manufacturing overhead of Heat Radiator in 2020. Adjust for 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 2020 (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. Print Done nufa