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The Heat Radiator Company uses a normal-costing system with a single manufacturing overhead cost pool...

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Accounting

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The Heat Radiator Company uses a normal-costing system with a single manufacturing overhead cost pool and machinehours as the cost-allocation base. The following data are for 2017 . (Click the icon to view the following data.) Read the tequirements. 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. Data table Machine-hours data and the ending balances (before proration of under-or overallocated overhead) are as follow 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

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