Requirement 1. Calci Identify the formula ar Data table The Row - On - Watershed Company (ROW) produces a line of non-motorized boats. ROW uses a normaloosting system and alocates 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: (Cick the icon to view the account balances.) Read the requirements. Requirement 1. Calculate the manufacturing overhead alocation rate. Idensily the formuls and calculate the manutacturing overhead allocation rate. (Enter the result as a whole number.) Requirement 1. Calculate Identify the formuls and of Data table Requirement 1. Calcul Identify the formula and Requirements 1. Calculate the manufacturing overhead allocation rate. 2. Compute the amount of under- or overalocated 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 mothod would you choose? Justify your