CW 1 Actual costing, normal costing, manufacturing overhead. Destin Products uses a -job-costing system with two direct-cost categories (direct materials and direct man- ufacturing labour) and one manufacturing overhead cost poll. Destin allocates man- ufacturing overhead costs using direct manufacturing labour costs. Destin provides the following information: Budget for Actuals for Year 2021 Year 2021 Direct manufacturing labour costs Direct manufacturing overhead costs Direct materials costs $1,000,000 $1,750,000 $1,500,000 $980,000 $1,862,000 $1,450,000 REQUIRED 1. Compute the actual and budgeted manufacturing overhead rates for 2021 2. During March, the cost record for Job 626 contained the following: Direct materials used $40,000 Direct manufacturing labour costs $30,000 Compute the cost of Job 626 using (a) an actual-costing system and (b) a normal- costing system. 3. At the end of 2021 compute the under-or overallocated manufacturing overhead under Destin's normal costing system. Why is there no under- or overallocated overhead under Destin's actual-costing system? 4. Comment briefly on the advantages and disadvantages of actual-costing and normal-costing systems. Preview