4:22 Actual costing, normal costing, accounting for manufacturing overhead, Dakota Products uses a job.costing system with two direct.cost categories (direct materials and dired manufacturing labor) and one manufacturing overhead cost pool Dakota allocates manufacturing overhead costs using direct manufacturing labor costs Dakota provides the following information Budget for 2017 Actual Results for 2017 Direct material costs $2,250,000 $2,150,000 Direct manufacturing labor costs 1,700,000 1,650,000 Manufacturing overhead costs 3,060,000 3,217,500 1. Compute the actual and budgeted manufacturing overhead rates for 2017 Required 2. During March the job-cost record for Job 626 contained the following information Direct materials used S55,000 Direct manufacturing labor costs $45,000 Compute the cost of Job 626 using (a) actual costing and (b) normal costing 3 At the end of 2017, compute the under or overallocated manufacturing overhead under normal costing Why is there no under or overallocated manufacturing overhead under actual costing? 4 Why might managers at Dakota Products prefer to use normal costing? A drge