The Solar 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 2012 Requirements 1. Compute the budgeted manufacturing overhead rate for 2012. 2. Compute the under- or overallocated manufacturing overhead of Solar Radiator in 2012. Dispose of this amount using the following: (Click the icon to view the data.) a. Write-off to Cost of Goods Sold Machine-hours data and the ending balances (before proration of under- or overallocated overhead) are as follows: b. Proration based on the overhead allocated in 2012 (before proration) in the ending balances of Work-in-Process Control, Finished Goods Control, and (Click the icon to view the data before proration.) Cost of Goods Sold 3. Which method do you prefer in requirement 2? Explain Requirement 1. Compute the budgeted manufacturing overhead rate for 2012. Begin by selecting the formula you will use. Then, enter the amounts and calculate the rate. Budgeted manufacturing overhead rate $ 4,875,000 Budgeted manufacturing overhead costs Machine-hours Overhead allocation base 75,000 Budgeted machine-hours $ Manufacturing overhead costs incurred 5,125,000 Actual machine-hours 80,000 Actual Machine-Hours 2012 End-of-Year Balance 60,000 $ Cost of Goods Sold 8,500,000 1,000,000 Finished Goods Control 12,000 Work-in-Process Control 8,000 500,000