Taylor Company uses normal costing. It allocates manufacturing overhead costs using a budgeted rate per machine-hour. The following data are available for 2020 : (Click the icon to view the data.) Read the reguirements. Requirements 1. Calculate the budgeted manufacturing overhead rate. 2. Calculate the manufacturing overhead allocated during 2020. 3. Calculate the amount of under- or overallocated manufacturing overhead. Why do Taylor's managers need to calculate this amount? Budgeted manufacturing overhead costs $3,800,000 Budgeted machine-hours 200,000 . Actual manufacturing overhead costs $3,660,000 Actual machine-hours 196,000