Data table Budgeted manufacturing overhead cost Budgeted direct manufacturing labor cost Actual manufacturing overhead cost Actual direct manufacturing labor cost - $ 125,000 69 $ 250,000 hber $ 117,000 $ 228,000 n ra hou he Ride-On-Waterway Company (ROW) produces a e of non-motorized boats. ROW uses a normal-costing ystem and allocates manufacturing overhead using direct anufacturing labor cost. The following data are for 2017: (Click the icon to view the data.) Inventory balances on December 31, 2017 were as follows: (Click the icon to view the account balances.) Read the requirements. Requirement 1. Calculate the manufacturing overhead allocation rate. dentify the formula and calculate the manufacturing overhead allocation rate. (Enter the result as a whole number.) Budgeted manufacturing overhead 125,000 Budgeted direct material costs 250,000 Overhead allocation rate = 114000 per labor hour Requirement 2. Compute the amount of under- or overallocated manufacturing overhead. Identify the formula and calculate the under- or manufacturing overallocated overhead. (Use parentheses or a minus sign to report overhead overallocated.) = Underallocated (overallocated) Requirement 3. Calculate the ending balances in work in process, finished goods and cost of goods sold if under- or overallocated manufacturing overhead is as follows: (a) written off to cost of goods sold, (b) prorated based on ending balances (before proration) in each of the three accounts, (c) prorated based on the overhead allocated in 2017 in the ending balances (before proration) in each of the three accounts. (a.) Calculate the ending balances in work in process, finished goods and cost of goods sold if under- or overallocated manufacturing overhead is written off to cost of goods sold. The Ride-On-Waterway Company (ROW) produces a line of non-motorized boats. ROW uses a normal-costing system and allocates manufacturing overhead using direct manufacturing labor cost. The following data are for 2017: (Click the icon to view the data.) Inventory balances on December 31, 2017 were as follows: (Click the icon to view the account balances.) Read the requirements. F F F Requirement 3. Calculate the ending balances in work in process, finished goods and cost of goods sold if under- or overallocated manufacturing overhead is as follows: (a) written off to cost of goods sold, (b) prorated based on ending balances (before proration) in each of the three accounts, (c) prorated based on the overhead allocated in 2017 in the ending balances (before proration) in each of the three accounts. (a.) Calculate the ending balances in work in process, finished goods and cost of goods sold if under- or overallocated manufacturing overhead is written off to cost of goods sold. F Account Ending Balance FL Work in process F Finished goods F Cost of goods sold F F (b.) Begin by identifying the formula and calculating the adjustment to each account assuming under- or overallocated manufacturing overhead is prorated based on ending balances (before proration) in each of the three accounts. (Use a minus sign or parentheses to show overallocated amounts and adjustments to be subtracted.) F (b.) F WIP FG CGS X X X Adjustment = Calculator Time Remaining: 01:44:52 Next 5:02 PM 2/10/2022 hufa (Cli Data table 13 - ces 2017 direct manufacturing or Ending Balance labor cost in ending balance ding the Work in process $ 33,400 $ 20,520 Finished goods Cost of goods sold 225,450 59,280 ated 576,150 148,200 quire erallo ance ding Cald anufa ccour Work in Account inishe Cost of Print Done b.) Begin by denurying the formula and calculating the adjustment to each account assuming under- or overamucated manufacturing overhead is prorated based on ending balances (before proration) in each of the three accounts. (Use a minus sign or parentheses to show overallocated amounts and adjustments to be subtracted.) F F The Ride-On-Waterway Company (ROW) produces a line of non-motorized boats. ROW uses a normal-costing system and allocates manufacturing overhead using direct manufacturing labor cost. The following data are for 2017: (Click the icon to view the data.) Inventory balances on December 31, 2017 were as follows: (Click the icon to view the account balances.) Read the requirements. Now calculate the ending balances in work in process, finished goods and cost of goods sold if under- or overallocated manufacturing overhead is prorated based on ending balances (before proration) in each of the three accounts. (Use a Fminus sign or parentheses to show adjustments to be subtracted.) F (b.) WIP =Ending Balance (adjusted) = FG CGS + + (c.) Begin by identifying the formula and calculating the adjustment to Work-in-Porcess, Finished Goods, and Cost of Goods Sold assuming under- or overallocated manufacturing overhead is prorated based on the the actual direct labor dollars given in the question. (Use a minus sign or parentheses to show overallocated amounts and adjustments to be subtracted.) F (c.) WIP F FG CGS F X X Adjustment (c.) Enter the formula and calculate the ending balances in work in process, finished goods and cost of goods sold if Funder- or overallocated manufacturing overhead is prorated based on the overhead allocated in 2017 in the ending Calculator Time Remaining: 01:44:21 Next The Ride-On-Waterway Company (ROW) produces a line of non-motorized boats. ROW uses a normal-costing system and allocates manufacturing overhead using direct manufacturing labor cost. The following data are for 2017: (Click the icon to view the data.) Inventory balances on December 31, 2017 were as follows: (Click the icon to view the account balances.) Read the requirements. WIP F FG F CGS x X F F (c.) Enter the formula and calculate the ending balances in work in process, finished goods and cost of goods sold if under- or overallocated manufacturing overhead is prorated based on the overhead allocated in 2017 in the ending balances (before proration) in each of the three accounts. (Use a minus sign or parentheses to show overallocated amounts and adjustments to be subtracted.) (c.) WIP Ending Balance (adjusted) FG F CGS F Requirement 4. Which method would you choose? Justify your answer. F The method that makes the most senses to F underallocation amount is F = The amount of the over- So