Required 1. Calculate the budgeted manufacturing overhead rate. 2. Calculate the amount of under-or overallocated manufacturing overhead. 3. Calculate the ending balances in work-in-process, finished goods, and cost of goods sold if under-or overallocated overhead is: 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 2019 in the ending balances, before proration, in each of the three accounts 4. Which disposition method do you prefer in requirement 3? Explain Data 07 on 121,000 220,000 $ Budgeted manufacturing overhead costs Budgeted direct manufacturing labour costs Actual manufacturing overhead costs Actual direct manufacturing labour costs $ 127,200 $ 224,000 Account balances Account Work-in-process Finished goods Cost of goods sold 2019 Direct Manufacturing Labour Ending Balance Cost in Ending Balance $ 41,500 $ 15,680 $ 232,400 $ 62,720 $ 556,100 $ 145,600 Print Done