Requirements Questions 1-4 help please

The Ride-On-Wonder 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 Click the icon to view the accou Read the requirements Requirement 1. Calculate the manufacturing overhead allocation rate. Identify the formula 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 % of DL costs 1 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 (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 thre (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 co Account Ending Balance Work in process Finished goods Cost of goods sold (6.) Begin by identifying the formula and calculating the adjustment to each account assuming under-or overallocated manufacturing overhead is prorated based sign or parentheses to show overallocated amounts and adjustments to be subtracted.) (b) Adjustment X WIP (a.) Calculate the ending balances in work in process, finished goods and cost of goods sold if under-or overallocated manufacturing overhead is written of Account Ending Balance Work in process Finished goods Cost of goods sold (6.) Begin by identifying the formula and calculating the adjustment to each account assuming under or overallocated manufacturing overhead is prorated bw sign or parentheses to show overallocated amounts and adjustments to be subtracted) (6.) Adjustment WIP X FG X CGS Now calculate the ending balances in work in procets, finished goods and cost of goods sold it under or overallocated manufacturing overhead is prorated bu sign or parentheses to show adjustments to be subtracted) (6.) Ending Balance (adjusted) WIP FG CGS (c.) Begin by identifying the formula and calculating the adjustment to each account assuming under-or overallocated manufacturing overhead is prorated bam each of the three accounts. (Use a minus sign or parentheses to show overallocated amounts and adjustments to be subtracted) (c) Adjustment SO WOW [b WIP Ending Balance (adjusted) + FG + CGS (.) 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 each of the three accounts (Use a minus sign or parentheses to show overallocated amounts and adjustments to be subtracted) (c) Adjustment WIP FG 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 th (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 amount of the over-underallocation amount is The method that makes the most sense is to Enter the result as a whole number.) Data Table $ $ Budgeted manufacturing overhead cost Budgeted direct manufacturing labor cost Actual manufacturing overhead cost Actual direct manufacturing labor cost 110,000 220,000 115,500 225,000 $ $ Print Done h account assuming under- or overallocated manufacturing overhead is prorated based on e e subtracted.) Adjustment MacBook Pro Data Table Account Work in process Finished goods Cost of goods sold Ending Balance $ 51,000 $ 238,000 2017 direct manufacturing labor cost in ending balance 18,000 58,500 148,500 561,000 1. Calculate the manufacturing overhead allocation rate. 2. Compute 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 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 4. Which method would you choose? Justify your