Carefeel, a manufacturing company uses job-costing system. The company plant has a machining department and a finishing department. Carefeel uses normal costing with two direct-cost categories (direct materials and direct manufacturing labour) and two manufacturing overhead cost pools (the machining department with machine-hours as the allocation base and the finishing department with direct manufacturing labour costs as the allocation base). The 2018 budget for the plant is as follows: Manufacturing overhead costs Direct manufacturing labour costs Direct manufacturing labour-hours Machine-hours Machining Department Finishing Department $9,065,000 $970,000 $ 8,181,000 $4,050,000 36,000 155,000 185,000 37,000 Q: PART A The President is aware that financial accounting focuses on reporting to outside users while managerial accounting focuses on reporting to inside users. As an on-going process, the company president wants you to perform the following so that the president gets a fair picture of the company. Required: i. According to you what specific characteristics would one expects to see in managerial accounting information? ii. Prepare the budgeted manufacturing overhead rate in the machining department for Carefeel company? III. Prepare the budgeted manufacturing overhead rate in the finishing department for Carefeel company