Inventory balances on December 31, 2020 were as follows: BC The Ride-On-Wave Company (ROW) produces a line of non-motorized boats. ROW uses a nomal-costing system and allocates manufacturing overhead using direct manufacturing labor cost. The followin (CI i Data Table - X Read the i Data Table - X Require Identify $ 110,000 bs a whole number.) Account Bud 2020 direct manufacturing labor cost in ending balance 18,320 $ Burgeted manufacturing overhead cost Budgeted direct manufacturing labor cost Actual manufacturing overhead cost Actual direct manufacturing labor cast 220,000 Ending balance $ 33.400 S Overhead allocation : 0.5 per labor hour $ 119,500 Work in process Finished goods Cost of goods sold 225.450 64.120 $ 229,000 Requir 576,150 146,560 Identify entheses or a minus Print Done A Print Done hderallocated (overalla 5,000 119.500 114.500 Ranuirament 3 releuleta tha andinn halenrec in swork in procace finisher nute and act of moric cnim if uncler or averallocated manufacturinn nuorhood is as followe-al written off to act of monde sold in Choose from any list or enter any number in the input fields and then continue to the next question. The Ride-On-Wave 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 2020: Click the icon to view the data.) Inventory balances on December 31, 2020 were as follows: Click the icon to view the account balances.) Read the requirements. Requirement 1. Calculate the manufacturing overhead allocation rate. Identify the fomula and calculate the manufacturing overhead allocation rate. (Enter the result as a whole number.) Budgeted manufacturing overhead Budgeted cost allocation base Overhead allocation rate 110,000 220,000 0.5 per labor hour Requirement 2. Compute the amount of under-or overallocated manufacturing overhead. Identify the fomula and calculate the under- or manufacturing overallocated overhead. (Use parentheses or a minus sign to report overhead overallocated.) Actual manufacturing overhead Allocated manufacturing overhead = Underallocated (overallocated) 119.500 114,500 5,000 Donniromont 3 Calculate the endina halances in work in amrece finished nende anni nnet af nande enla if hinder or Averallaratan manufacturinn marheori ie as follows a written off to anet of moncle cold thi The Ride-On-Wave 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 2020: (Click the icon to view the data) Inventory balances on December 31, 2020 were as follows: (Click the icon to view the account balances.) Read the requirements, 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 2020 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-ar overallocated manufacturing overhead is written off to cost of goods sold. Account Work in process Finished goods Cost of goods sold Ending Balance 33,400 225,450 576,150 (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.) (b.) Adjustment ansliet ar antara trabar in theirut fialde od than continuo to the nortmunction The Ride-On-Wave 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 2020: Click the icon to view the data.) Inventory balances on December 31, 2020 were as follows: FE (Click the icon to view the account balances. Read the requirements (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.) (b.) Adjustment WIP FG CGS 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 minus sign or parentheses to show adjustments to be subtracted.) (b.) = Ending Balance (adjusted) WIP mwhorinthi fra listrik cantion The Ride-On-Wave Company (ROW) produces a line of non-motorized boats. ROW uses a Inventory balances on December 31, 2020 were as follows: normal costing system and allocates manufacturing overhead using direct manufacturing labor cost. The (Click the icon to view the account balances.) following data are for 2020: Read the requirements, Click the icon to view the data.) 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 minus sign or parentheses to show adjustments to be subtracted.) (b) Ending Balance (adjusted) WIP FG CGS (c.) Begin by identifying the formula and calculating the adjustment each account assuming under-or averallocated manufacturing overhead prorated based on the overhead allocated in 2020 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) Adjustment WIP FG Choose from any list or enter any number in the input fields and then continue to the next question The Ride-On-Wave Company (ROW) produces a line of non-motorized boats. ROW uses a Inventory balances on December 31, 2020 were as follows: normal costing system and allocates manufacturing overhead using direct manufacturing labor cost. The (Click the icon to view the account balances.) following data are for 2020: Read the requirements, Click the icon to view the data.) 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 minus sign or parentheses to show adjustments to be subtracted.) (b) Ending Balance (adjusted) WIP FG CGS (c.) Begin by identifying the formula and calculating the adjustment each account assuming under-or averallocated manufacturing overhead prorated based on the overhead allocated in 2020 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) Adjustment WIP FG Choose from any list or enter any number in the input fields and then continue to the next question The Ride-On-Wave Company (ROW) produces a line of non- motorized boats. ROW uses a Inventory balances on December 31, 2020 were as follows: normal-costing system and allocates manufacturing overhead using direct manufacturing labor cost. The (Click the icon to view the account balances.) following data are for 2020: Read the requirements, Click the icon to view the data.) (C.) Begin by identifying the formula and calculating the adjustment to each account assuming under-or overallocated manufacturing overhead is prorated based on the overhead allocated in 2020 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.) Adjustment WIP x = FG x = CGS (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 2020 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.) ic.) Ending Balance (adjusted) WIP FG Choose from any list or enter any number in the input fields and then continue to the next question The Ride-On-Wave 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 2020: (Click the icon to view the data.) Inventory balances on December 31, 2020 were as follows: (Click the icon to view the account balances.) Read the requirements, (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 2020 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) Ending Balance (adjusted) WIP = FG CGS Requirement 4. Which method would you choose? Justify your answer The method that makes the most sense is to The amount of the over underallocation amount is SO Choose from any list or enter any number in the input fields and then continue to the next