Answer each question as if you were the lead staff accountantforTeledex Company and are presenting to the CEO as indicated in the case study.For each answer explain the terminology and concepts used. For example, in #1 rather than just give thepredetermined overhead rate , explain the calculation - this is a professional report from a managerial accountant to the company president.Use outside sources when necessary BUT MAKE SURE YOU CITE THEM!When giving a recommendation, back it up with numbers. Make sure you address the original dilemma - lost bids. This particular answer should be managerial accountingreport to the company president

\"Blast it!" said David Wilson, president of Teledex Company. \"We've just lost the bid on the Koopers job by $4,000. It seems we're either too high to get thejob or too low to make any money on half thejobs we bid." Teledex Company manufactures products to customers' specifications and uses a job-order costing system. The company uses a plantwide predetermined overhead rate based on direct labor cost to apply its manufacturing overhead (assumed to be all fixed] to jobs. The following estimates were made at the beginning of the year: Department Fabricating Machining Assembly Total Plant Manufacturing overhead S 383,250 5 438,000 5 98,550 5 919,800 Direct labor S 219,000 S 109,500 S 328,500 S 657,000 Jobs require varying amounts of work in the three departments. The Koopersjob, for example, would have required manufacturing costs in the three departments as follows: Department Fabricating Machining Assembly Total Plant Direct materials 5 4,900 S 400 5 3.300 S 8,600 Direct labor $ 6,600 $ 700 5 8,100 $ 15,400 Manufacturing overhead ? ? ? ? Required: 1. Using the company's plantwide approach: a. Compute the plantwide predetermined rate for the current year. b. Determine the amount of manufacturing overhead cost that would have been applied to the Koopers job. 2. Suppose that instead of using a plantwide predetermined overhead rate, the company had used departmental predetermined overhead rates based on direct labor cost. Under these conditions: a. Compute the predetermined overhead rate for each department for the current year. b. Determine the amount of manufacturing overhead cost that would have been applied to the Koopers job. 4. Assume that it is customary in the industry to bidjobs at 150% oftotal manufacturing cost (direct materials, direct labor, and applied overhead). a. What was the company's bid price on the Koopersjob using a plantwide predetermined overhead rate? b. What would the bid price have been if departmental predetermined overhead rates had been used to apply overhead cost? Complete this question by entering your answers in the tabs below. I Required 1A I Required 13 Required 2A Required 2B Required 4A Required 43 Using the company's plantwide approach, compute the plantwide predetermined rate for the current year. Predeten'nlned overhead rare l 140 o % lordlrect labor cos! Complete this question by entering your answers in the tabs below. Required 1A Required 13 Required 2A Required 23 Required 4A Required 43 5 Using the company's plantwide approach, determine the amount of manufacturing overhead cost that would have been applied to the Koopers job. Complete this question by entering your answers in the tabs below. Required 1A Required 13 Required 2A Required 25 Required 4A Required 43 Suppose that instead of using a plantwide predetermined overhead rate, the company had used departmental predetermined overhead rates based on direct labor cost. Compute the predetermined overhead rate for each department for the current yeah Fabricating department 175 o \" of direct labor cost Machining department 400 o \" of direct labor cost Assembly department 30 a \" of direct labor cost Complete this question by entering your answers in the tabs below. Required 1A Required IB Required 2A Required 2B Required 4A Required 43 Suppose that instead of using a plantwide predetermined overhead rate, the company had used departmental predetermined overhead rates based on direct labor cost. Determine the amount of manufacturing overhead cost that would have been applied to the Koopers job. Manufacturing overhead cost applied 5 16330 9 | Complete this question by entering your answers in the tabs below. Required 1A Required 13 Required 2A Required ZB Required 4A Required 43 Assume that it is customary in the industry to bid jobs at 150% of total manufacturing cost (direct materials, direct labor, and applied overhead). What was the company's bid price on the Koopers job using a plantwide predetermined overhead rate? Company's bid price $ 53.340 0 ' Complete this question by entering your answers in the tabs below. Required 1A Required 13 Required 2A Required ZB Required 4A I Required 4B I Assume that it is customary in the industry to bid jobs at 150% of total manufacturing cost (direct materials, direct labor, and applied overhead). What would the bid price have been if departmental predetermined overhead rates had been used to apply overhead cost? Company's bid price $ 61,170 9