Answer ALL questions in this paper. [100 MARKS] QUESTION 1 (20 Marks) REQUIRED 1.1 Prepare the overhead allocation statement (using traditional costing). (14 marks) 1.2 Calculate the allocation rate (expressed to the nearest cent) for each of the production centres, based on machine hours for Machine centres A and B and direct labour hours for , Assembly. (3 marks) 1.3 Calculate the overheads applied to each batch of the product. (3 marks) INFORMATION Perth Limited has three production centres (Machine Centre A, Machine Centre B and an Assembly Centre) and two service centres (Materials Procurement and General Manufacturing Support). The annual overhead costs are as follows: The following information is also provided: Total materials issues (both direct and indirect) to the production centres are as follows: Secondary allocation: The value of materials issued is used as a basis for the Materials Procurement cost centre. Direct labour hours is then used as the basis for the General Manufacturing Support cost centre. The product is produced in batches of 100 . Each unit spends 5 hours in the Machine Centre A,10 hours in Machine Centre B and 10 hours in the Assembly Centre