The Zef 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 rate 1. Compute the budgeted manufacturing overhead rate for 2017. 2. Compute the under-or overallocated manufacturing overhead of Zef 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. 90,000 Budgeted manufacturing overhead costs $ 5,850,000 Overhead allocation base Machine-hours Budgeted machine-hours Manufacturing overhead costs incurred $ 5,900,000 Actual machine-hours 85,000 Machine-hours data and the ending balances (before proration of under-or overallocated overhead) are as follows: Actual Machine-Hours 2017 End-of-Year Balance Cost of Goods Sold 8,800,000 Finished Goods Control 68,000 10,000 7,000 1,650,000 Work-in-Process Control 550,000