Dakota Products uses a job-costing system with two direct-cost categories (direct materials and direct manufacturing labor) and one manufacturing overhead cost pool. Dakota allocates manufacturing overhead costs using direct manufacturing labor costs. Dakota provides the following information: (Click the icon to view the information.) Read the requirements Requirement 1. Compute the actual and budgeted manufacturing overhead rates for 2017. (Enter your answer as a number [not as a percentage] rounded to two decimal places, X.XX.) Actual manufacturing overhead rate Budgeted manufacturing overhead rate Data table $ Direct material costs Direct manufacturing labor costs Manufacturing overhead costs Budget for 2017 Actual Results for 2017 2,250,000 $ 2,150,000 1,700,000 1,650,000 3,060,000 3,217,500 Print Done Requirements 1. Compute the actual and budgeted manufacturing overhead rates for 2017. 2. During March, the job-cost record for Job 626 contained the following information: Direct materials used $55,000 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 overhead under actual costing? 4. Why might managers at Dakota Products prefer to use normal costing? Print Done