Destin Products uses a job-costing system with two direct-cost categories (direct materials and direct manufacturing labor) and one manufacturing overhead cost pool. Destin allocates manufacturing overhead costs using direct manufacturing labor costs. Destin 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 2020. (Enter your answer as a number (not as a percentage) rounded to two decimal places, XXX) Actual manufacturing overhead rate Budgeted manufacturing overhead rate= Data table X O= Direct material costs Direct manufacturing labor costs Manufacturing overhead costs $ Budget for 2020 2,200,000 $ Actual Results for 2020. 2,050,000 1,550,000 2.712,500 1,490.000 2,831,000 1. Compute the actual and budgeted manufacturing overhead rates for 2020. 2. During March, the job-cost record for Job 626 contained the following information: Direct materials used Direct manufacturing labor costs $35,000 $30,000 Compute the cost of Job 626 using (a) actual costing and (b) normal costing. 3. At the end of 2020, 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 Destin Products prefer to use normal costing?