(Answered) Question budgeted manufacturing overhead rate allocated

Accounting

Question: Budgeted manufacturing overhead rate, allocated manufacturing overhead. Taylor Company uses normal costing. It allocates manufacturing overhead costs using a budgeted rate per machine-hour. The following data are available for 2017:

Budgeted manufacturing overhead costs $3,800,000

Budgeted machine-hours 200,000

Actual manufacturing overhead costs $3,660,000

Actual machine-hours 196,000

1. Calculate the budgeted manufacturing overhead rate.

2. Calculate the manufacturing overhead allocated during 2017.

3. Calculate the amount of under- or overallocated manufacturing overhead. Why do Taylor's managers need to calculate this amount?

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