Dustin Products uses a job-costing system with two direct-cost categories (direct materials and direct manufacturing labor) and one manufacturing overhead cost pool. Dustin allocates manufacturing overhead costs using dire provides the following information: EEB (Click the icon to view the information.) Read the requirements Requirement 1. Compute the actual and budgeted manufacturing overhead r Actual manufacturing overhead rate - Budgeted manufacturing overhead rate- Data Table Requirement 2. During March, the job-cost record for Job 626 contained the Direct materials used Budget for 2017 Actual Results for 2017 Direct manufacturing labor costs Direct material costs Direct manufacturing labor costs Manufacturing overhead costs 2,050,000$ 1,650,000 2,805,000 1,900,000 1,575,000 2,835,000 Compute the cost of Job 626 using (a) actual costing and (b) normal costing. Actual Normal Costing Costing Direct materials Dire Manufacturing overhead costs Total Requirement 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? hoose from any list or enter any number in the input fields and then continue to the next question. Print Done ct manufacturing labor costs manufacturing costs of Job 626 Requirements - X Data Table 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: Budget for 2017 Actual Results for 2017 Direct materials used Direct manufacturing labor costs $45,000 $40,000 Direct material costs Direct manufacturing labor costs Manufacturing overhead costs 2,050,000 $ 1,650,000 2,805,000 1,900,000 1,575,000 2,835,000 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 Dustin Products prefer to use normal costing? Print Done Requirement 1 Compute the actual and budgeted manufacturing overhead rates or 20. Enter your answer as a number not as a e centage rounded tot Actual manufacturing overhead rate Budgeted manufacturing overhead rate Requirement 2. During March, the job-cost record for Job 626 contained the following information decima places $45,000 $40,000 Direct materials used Direct manufacturing labor costs Compute the cost of Job 626 using (a) actual costing and (b) normal costing Actual Normal Costing Costing Direct materials Direct manufacturing labor costs Manufacturing overhead costs Total manufacturing costs of Job 626 Requirement 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? Requirement 3. At the end of 2017, compute the under or cverallocated manufacturing overhead under normal costing. Why is there no underor overalocated overhead under actual costing? Under normal costing. manulacriaring overheard is Why is there no under-or overalocated overhead under actual cosing? There is no unier er overalocated nverhead under actual casting hecause averhead is alocated under acual costing by multiplying Requirement 4. Why might managers at Dustin Products prefer to use normal costing? (Choose all that apphy) bys manufacturing lahor costs and the A. Normal costing provides managers with informatinn at the end of a fiscal year when they knaw actual manufacturing overhead nsts. This appmach is prferble to managers to improve the company's spending efficiency and increase overall profits orma costing enables includling pricing jobs, monitoring and managing costs, evaluating the success of the job, learning about what cid and did not work, bidding on new joos, and preparing interim financial statements. ustin Prod ts to L e the budgeted manut turing ove head rate determined at the eginn ng o the ear to estimate the east of a ob as soon as the b s c mpleted. Mana ers want to kno ch ce t or ongoing uses, C. Manufacturing costs of a job are available much earlier in a normal costing system. Consequently, Dustin's manufacturing and sales managers can evaluare the proftability of different jobs, the efficiency with which the jobs are done, and the pricing of different jobs as soon as they are completed, while the experience is still fresh in everyones mind Normal costing a lo the accounting year. D s managers to e ocate overhead costs at the end of the accounting year. This alaws Dustin Products to use the normal coss curred to provide an accurate oosting method so that ad us ments w not need to be made at the end E. Normal costing provides managers with information earlier-while there is still tme to take corrective actions, such as improving the company's labor efficiency or reducing the company's overhead costs