0 The Ride On Water (ROW) Company produces a line of non-motorized boats, ROW uses a normal job-costing system and allocates manufacturing overhead costs using direct mutacturing our cost. The flowing data are available for 2019 Click the icon to view the data) Inventory balances on December 31, 2019 were as follows: Click the loon to view the account balances) Rec 1 Account balances 0 Data Red - - Idee $ 2019 Direct Manufacturing Labour Account Ending Balance Costin linding Balance Work in process $ 50,000 $ 20,000 Finished goods $ 240,000 80,000 Cost of goods sold $ 500,000 $ 140,000 $ Budgeted maturing overhead costs Budgend vrect manufacturing labour costs Actual matching overhead costs Actual direct manufacturing labour costs 100,000 200,000 100,000 220,000 $ Red $ Ide ocated) Print Done Print Done Requirement 1. Calculate the budgeted manufacturing overhead rate. Identify the formula and calculate the overhead allocation rate. (Abbreviation used: mfg. = manufacturing. Enter the overhead allo Overhead allocation rate Requirement 2. Calculate the amount of under-or overallocated manufacturing overhead. Identify the formula and calculate the underallocated or overallocated overhead. (Abbreviations used: Bgt. = budgeted, mfg. = man Underallocated (Overallocated) Requirement 3. Calculate the ending balances in work-in-process, finished goods, and cost of goods sold if under- or overallocated overhead is (a.) Calculate the ending balances in work-in-process, finished goods, and cost of goods sold If underallocated or overallocated overhead is written off to cost of goods sold. Account Ending Balance Work-in-process Finished goods Cost of goods sold x (b) Begin by identifying the formula and calculating the custment to each account assuming that under or overalocated overhead is prorated based on ending balances (before prorationi in each of the three accents. (Abbreviation used. OH = overhead. Enter proportions to four decimal places. Round your answers to the nearest cent. Use a minus sign or parentheses to show overallocated amounts and adjustments to be subtracted.) b. Adjustment WIP FG COS Now calculate the ending balances in work in process. Thished goos, and cost of goods sold under of overallocated overhead is prorated based on ending balances before prorations in each of the three accounts (Abbreviations used: WIP = work in process, Finished goods, CGS cost of goods sold in or parentheses to show adjustments to be subtracted Round your answers to the nearest cent) Ending balance (adjusted) WIP FG COS nh (c) Begin by identifying the formula and calculating the adjustment to each account assuming that under or overallocated overhead is prorated based on the overhead allocated in 2019 in the ending balances before proration in each of the three accounts (Abbreviation used: OH overhead Enterproportions to four decimal places. Round your answers to the nearest cent. Use a minus sign or parentheses to show overallocated amounts and adjustments to be subtracted) ic x Adjustment WIP FG CGS (c) Enter the formula and calculate the enting balances in work in process finished goods, and cost of goods sold i under or overalocated overhead is prorted based on the overhead allocated in 2019 in the ending balance before a minners to show overlated amounts and ments to be subtracted) (c) Enter the formula and calculate the ending balances in work in process, finished goods, and cost of goods sold it under or overrated overhead is prosted based on the overhead allocated in 2019 in the ending Dances before proration in each of the three accounts (Round your answers to the nearest certains signor preses to show overlated amounts and adjustments to be subtracted) Ending balance de WP FG COS Requirement 4. Which disposition method do you prefer negrement plan The method that makes the most sense is to The amount of the under of overlocated plant overhead is SO