The Row-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 2020: (Click the icon to view the data) Inventory balances on December 31, 2020 were as follows (Click the icon to view the account balances.) 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) Actual direct labor costs. Actual direct material costs Actual indirect costs Budgeted direct material costs Budgeted manufacturing overhead Overhead allocation rate K The Row-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 2020: (Click the icon to view the data.) Inventory balances on December 31, 2020 were as follows: (Click the icon to view the account balances.) 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.) Actual direct labor costs Actual direct material costs Actual indirect costs Budgeted direct material costs. Budgeted manufacturing overhead Overhead allocation rate