Budgeted Overhead Budgeted Measures Materials movement. Assembly $1,080,000 $1,950,000 # of jobs 480 Packaging/Shipping $1,584,000 Direct labor hours. Machine hours. I 16,000 7,800 # of boxes shipped... 48,000 # of components used 4,000,000 1. Use the correlation tool in Excel to determine which measure should be used for each activity. HINT: The correlation tool can be found on the Analyze menu on the Data tab in Excel. If the Analyze section does not appear, you will need to load the Analysis ToolPak. Click the File tab, click Op- tions, and click Add-Ins. Make sure Excel Add-ins appears in the Manage field. Check the Analysis ToolPak option and click OK. 2. Using the measures identified in 1., determine the activity rates for allocating manufacturing over- head to jobs. 3. What would the predetermined rate be if direct labor hours were used to allocate all manufacturing overhead costs? 4. Assume Kirkland had a job that required 36 direct labor hours, 16 machine hours, 1,875 compo- nents, and 68 boxes. How much manufacturing overhead would be applied to that job under ABC? How does that compare to the amount applied if direct labor hours were used to allocate overhead? What might account for the difference?