The Row - On - Watershed 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 2020 : IA (Click the icon to viow the data.) Inventory balances on December 31,2020 were as follows: (Click the icon to view the acoount balances,) Read the requirements Requirement 1. Calculate the manufacturing overhead allocation rate. Identily the formula and calculate the manufacturing overhead allocation rate. (Enter the result as a whole number) Requirement 2. Compute the amount of under- er overallocated manufacturing overhead Identify the formula and calculate the under- or manufacturing overallocatod overhead. (Use parentheses or a minus sign to report overheod overilocated.) Requirement 3. Calculate the ending balances in work in process winished goods and cost of goods sold if under-or overallocated manufacturing overhead is as follows: (a) wriet goods sold, (b) prorated based on ending balances (before proration) in each of the three accounts, (c) prorated based on the overhead allocaled in 2020 in the ending balances ( each of the three acoounts (a.) Calculate the ending belances in work in process, finished goods and cost of goods soid if under- or overaliocated manufacturing overtead is written off to coat of geods sold. Data table Data table Requirements 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 2020 in the ending balances (before proration) in each of the three accounts 4. Which method would you choose? Justify your answer. fc.) Begin by ibentifing the formula and calculating the adustment to Wonkin-Porcess, Finished Goods, and Cost of Goods Sold assuming under-or overalocated manufucturing overty procated bosed on the the actual drect laber dolars given in the question. (Use a minus sign or parontheses to show overallocated amounts and aclicatlments to be aubirected? The Row - On - Watershed 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 2020 : IA (Click the icon to viow the data.) Inventory balances on December 31,2020 were as follows: (Click the icon to view the acoount balances,) Read the requirements Requirement 1. Calculate the manufacturing overhead allocation rate. Identily the formula and calculate the manufacturing overhead allocation rate. (Enter the result as a whole number) Requirement 2. Compute the amount of under- er overallocated manufacturing overhead Identify the formula and calculate the under- or manufacturing overallocatod overhead. (Use parentheses or a minus sign to report overheod overilocated.) Requirement 3. Calculate the ending balances in work in process winished goods and cost of goods sold if under-or overallocated manufacturing overhead is as follows: (a) wriet goods sold, (b) prorated based on ending balances (before proration) in each of the three accounts, (c) prorated based on the overhead allocaled in 2020 in the ending balances ( each of the three acoounts (a.) Calculate the ending belances in work in process, finished goods and cost of goods soid if under- or overaliocated manufacturing overtead is written off to coat of geods sold. Data table Data table Requirements 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 2020 in the ending balances (before proration) in each of the three accounts 4. Which method would you choose? Justify your answer. fc.) Begin by ibentifing the formula and calculating the adustment to Wonkin-Porcess, Finished Goods, and Cost of Goods Sold assuming under-or overalocated manufucturing overty procated bosed on the the actual drect laber dolars given in the question. (Use a minus sign or parontheses to show overallocated amounts and aclicatlments to be aubirected