Maytag washer smells like burnt rubber

My Maytag washer seems to smell like burnt rubber especially while agitating its load. I bought a new belt and slipped it on the unit, but it continues to have this problem. The old belt actually didn’t look burnt or melted. It just seemed like the thing to do. I removed the front panel to see if the transmission was moving,
it does move during the spin cycle, but not while the machine appears to
agitate the load. Is this how it should operate? May a new belt smell like its
burning? What is the proper tension for the belt? How is it adjusted if needed?
The motor appears to be operational. No water leaks are visible. Machine drains off water well. Besides dust and lint in the machine fine white shavings or powder appears to have collected under the transmission inside the machine as viewed through the front of this top-load machine. Not sure if it is just soap residue. Under the machine there was a bit of lint and dust. I didn’t pay attention or look for the white shavings when I first moved the machine. I just cleaned up the debris under the machine when I replaced the old belt. No new debris deposits under the machine since the new belt was installed…just the odor. What could it be?