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.) i X Read the requirements. Data Table Requirement 1. Calculate the budgeted manufacturing overhead rate. Determine the formula, then calculate the budgeted manufacturing overhead rate. Budgeted manufacturing overhead costs $ 3,800,000 Budgeted machine-hours 200,000 Budgeted manufacturing overhead rate Actual manufacturing overhead costs $ 3,660,000 Actual machine-hours 196,000 Requirement 2. Calculate the manufacturing overhead allocated during 2020. Determine the formula, then calculate the manufacturing overhead allocated during 2020. Print Done Manufacturing overhead allocated Requirement 3. Calculate the amount of under- or overallocated manufacturing overhead. Why do Taylor's managers need to calculate this amount? The manufacturing overhead is by Why do Taylor's managers need to calculate this amount? Taylor's managers need to calculate the under- or overallocated manufacturing overhead at the of the year because the overhead costs allocated are based on These adjustments the reported income used to evaluate managerial performance. ? Choose from any list or enter any number in the input fields and then continue to the next