Dakota Products uses a job-costing system with two direct-cost categones (direct materials and direct manufacturing labor) and one manufacturing overhead cost pool. Dakota allocates manufacturing overhead costs using direct manufacturing labor costs. Dakota provides the following information (Click the icon to view the information) Read the requirements Requirement 1. Compute the actual and budgeted manufacturing overhead rates for 2020 (Enter your answer as a number [not as a percentage] rounded to two decimal places, XXX) Actual manufacturing overhead rate Budgeted manufacturing overhead rate 1.95 1.7 Requirements 1. Compute the actual and budgeted manufacturing overhead rates for 2020 2. During March, the job-cost record for Job 626 contained the following information. Direct materials used Direct manufacturing labor costs $55,000 $45,000 Compute the cost of Job 626 using (a) actual costing and (b) normal costing 3. At the end of 2020, compute the under- or overallocated manufacturing overhead under normal costing Why is there no under- or overallocated overhead under actual costing? 4. Why might managers at Dakota Products prefer to use normal costing? Print Done