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 2011 Budgeted manufacturing overhead cost Budgeted direct manufacturing labor cost Actual manufacturing overhead cost Actual direct manufacturing labor cost 2. Calculate the applied (allocated) overhead rate. (5 points) $125,000 $250,000 $117,000 $228,000 3. Determine the under/over applied overhead. (5 points)