Chan Company identified the following activities, costs, and activity drivers for this year. The company manufactures two types of go-karts: fast and standard. Expected Activity Costs Activity Driver Handling materials $624,000 120,000 parts Inspecting product 791,000 1,400 batches Processing 115,000 920 orders purchase orders Paying suppliers 185,000 500 invoices Insuring the 320,000 40,000 factory square feet Designing packaging 77,000 2 models 1. Compute a single plantwide overhead rate assuming that the company assigns overhead based on 110,000 budgeted direct labor hours. 2. In January of this year, the fast model required 2,500 direct labor hours and the standard model required 6,500 direct labor hours. Assign overhead costs to each model using the single plantwide overhead rate. Complete this question by entering your answers in the tabs below. Required Required 1 2 Compute a single plantwide overhead rate assuming that the company assigns overhead based on 110,000 budgeted direct labor hours. 0 Required Required 2 > Required Required 1 In January of this year, the fast model required 2,500 direct labor hours and the standard model required 6,500 direct labor hours. Assign overhead costs to each model using the single plantwide overhead rate. (Round OH rate to 2 decimal places.) Show less Total DL Plantwide Total Hours Overhead required OH Rate Cost Fast model Standard model