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Compute the budgeted manufacturing overhead rate is

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Consider the following selected cost data for the Katharine Forging Company for 2006.

Budgeted manufacturing overhead ?7,200,000

Budgeted machine-hours ?200,000

Actual manufacturing overhead ?6,500,000

Actual machine-hours ?190,000

Katharine's job-costing system has a single manufacturing overhead cost pool. Costs are allocated to jobs using a budgeted machine-hour rate and actual machine-hours. Any amount of under- or over-allocation is written off to

Problem 1. The budgeted manufacturing overhead rate is?

Problem 2. The journal entry for the allocation of manufacturing overhead will include a?

Reference no: EM132746621

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