(Click the icon to view the cost data.) Read the Requirement 1. Compute the overhead rate Sierra University Hospital charged on the cotton roll. Begin by determining the formula, then calculate the overhead rate. (Enter the percentage as a whole number.) One item that caught Missell's attention was an $11.33 charge for a roll of cotton. Missell is a salesman for Johnson \& Johnson and knows that the cost to the hospital of the roll of cotton is between $2.00 to $2.80. He asked for a breakdown of the $11.33 charge. The accounting office of the hospital sent him the following information: a. Invoiced cost of cotton roll \$ 2.20 b. Cost of processing paperwork for purchase 0.59 c. Supplies-room management fee 0.75 d. Operating-room and patient-room handling costs 1.61 e. Administrative hospital costs 1.12 f. University teaching-related costs 0.58 g. Malpractice insurance costs 1.26 h. Cost of treating uninsured patients 2.60 i. Profit component 0.62 Total 11.33 Requirements 1. Compute the overhead rate Sierra University Hospital charged on the cotton roll. 2. What criteria might Sierra use to justify allocation of the overhead items bi in the preceding list? Examine each item separately and match it to the appropriate criteria. 3. What should Missell do about the $11.33 charge for the cotton roll? (Click the icon to view the cost data.) Read the Requirement 1. Compute the overhead rate Sierra University Hospital charged on the cotton roll. Begin by determining the formula, then calculate the overhead rate. (Enter the percentage as a whole number.) One item that caught Missell's attention was an $11.33 charge for a roll of cotton. Missell is a salesman for Johnson \& Johnson and knows that the cost to the hospital of the roll of cotton is between $2.00 to $2.80. He asked for a breakdown of the $11.33 charge. The accounting office of the hospital sent him the following information: a. Invoiced cost of cotton roll \$ 2.20 b. Cost of processing paperwork for purchase 0.59 c. Supplies-room management fee 0.75 d. Operating-room and patient-room handling costs 1.61 e. Administrative hospital costs 1.12 f. University teaching-related costs 0.58 g. Malpractice insurance costs 1.26 h. Cost of treating uninsured patients 2.60 i. Profit component 0.62 Total 11.33 Requirements 1. Compute the overhead rate Sierra University Hospital charged on the cotton roll. 2. What criteria might Sierra use to justify allocation of the overhead items bi in the preceding list? Examine each item separately and match it to the appropriate criteria. 3. What should Missell do about the $11.33 charge for the cotton roll