Winkie Thomas Sinclair (WTS) produces a line of water heaters. WTS uses a normalcosting system with a single manufacturing cost pool and allocates manufacturing overhead using machine hours. The following data are for 2023: Budgeted manufacturing overhead cost $4,800,000 Budgeted machine-hours 80,000 Actual machine-hours 75,000 Manufacturing overhead costs incurred $4,900,000 OPEN BOOK Mid-Term Examination Semester 1/ AY 2023/2024 Page 1 of 1 Machine-hours data and the ending balances (before proration of under- or overallocated overhead) are as follows: Actual Machine-Hours 2023 End-of-Year Balance Cost of Goods Sold 60,000 $8,000,000 Finished Goods Control 11,000 1,250,000 Work-in-Process Control 4,000 750,000 Required: 1. Calculate the budgeted manufactu