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Checking Savings Transactions per account 300 180 Number of calls per account Number of queries per account GD expects to open 4,500 checking accounts and 3,000 savings accounts in 2019. Required a) Determine the total budgeted cost for 2019. b) Calculate the total budgeted annual support costs per checking account. c) Calculate the total annual support costs per savings account. AP-6A LO 3 The Great Fone Company designs and manufactures cell phones. The company currently offers two models; the T340 and the SS360. The company has three operating departments: design, engineering and production. In the past, the company has been allocating the manufacturing overhead based on machine hours. However, Laura Simmie, the product manager of T340, has a hunch that the current method of using only machine hours as a cost allocation base is resulting in the allocation of too much overhead costs to the product. She has proposed that the company use the ABC system to cost products. In 2019, the actual manufacturing overhead was $200,000. The following indicates the total amount of machine hours used for the production of each cell phone model in 2019. Machine Hours T340 2,000 hours SS360 2,000 hours Total machine hours 4,000 hours Required a) Calculate the manufacturing overhead cost allocation rate using machine hours.Cost Management Strategies Chapter 4 b) Determine the manufacturing overhead allocated to each model using the manufacturing overhead cost allocation rate determined in part a). c) The Great Fone Company is considering changing its costing system by tracing manufacturing overhead costs to the three operating activities. The following is the amount of manufacturing overhead costs traceable to the designing, engineering and production activities. Operating Areas Cost Drivers Total Costs Designing Number of design hours $80,000 Engineering Number of engineering hours 40,000 Production Number of machine hours 80,000 Total $200,000 The total cost allocation units used for each product line are: Cost Allocation Base T340 SS360 Total Design hour 1,100 1,400 2,500 Engineering hours 1,700 1,800 3,500 Machine Hours 2,000 2,000 4,000 Determine the manufacturing overhead rate for each activity. In addition, use the manufacturing overhead rates to calculate the allocated overhead for each model. d) Was Laura's 'hunch' well founded