Cregg's Fine Furnishings manufactures upscale custom furniture. Cregg's currently uses a plantwide overhead rate based on direct labor hours to allocate its $1,300,000 of manufacturing overhead to individual jobs. However, Debra Fuller, owner and CEO, is considering refining the company's costing system by using departmental overhead rates. Currently, the Machining Department incurs $760,000 of manufacturing overhead while the Finishing Department incurs $540,000 of manufacturing overhead. Fuller has identified machine hours (MH) as the primary manufacturing overhead cost driver in the Machining Department and direct labor (DL) hours as the primary cost driver in the Finishing Department. i (Click the icon to view the job information.) Read the requirements. - X Requirement 1. Compute the plantwide overhead rate assuming that Cregg's expects to incur 25,000 total DL hours during the year. Requirements First identify the formula, then compute the rate. (Round your answer to the nearest whole dollar.) Plantwide overhead rate 1. Compute the plantwide overhead rate assuming that Cregg's expects to incur 25,000 total DL hours during the year. 2. Compute departmental overhead rates assuming that Cregg's expects to incur 15,200 MH in the Requirement 2. Compute departmental overhead rates assuming that Cregg's expects to incur 15,200 MH in the Machining Department and 18,000 DL hours in the Finishing Department during the year. Machining Department and 18,000 DL hours in the Finishing Department during the year. 3. If Cregg's continues to use the plantwide overhead rate, how much manufacturing overhead would First identify the formula, then compute the rate for each department. (Round your answers to the nearest whole dollar.) be allocated to Job 450 and Job 455? 4. If Cregg's uses departmental overhead rates, how much manufacturing overhead would be Departmental allocated to Job 450 and Job 455? overhead rate 5. Based on your answers to Requirements 3 and 4, does the plantwide overhead rate overcost or Machining per mach. hour undercost either job? Explain. If Cregg's sells its furniture at 125% of cost, will its choice of allocation systems affect product pricing? Explain. Finishing per DL hour Requirement 3. If Cregg's continues to use the plantwide overhead rate, how much manufacturing overhead would be allocated to Job 450 and Job 455? First identify the formula, then calculate the amount of manufacturing overhead that would be allocated to the jobs if the plantwide overhead rate is used. (Round your answers to the nearest whole dollar.) Print Done Manufacturing overhead allocated Job 450 Job 455 Requirement 4. If Cregg's uses departmental overhead rates, how much manufacturing overhead would be allocated to Job 450 and Job 455? Use the following table to calculate the amount of manufacturing overhead that would be allocated to the jobs if the departmental overhead rates are used. (Round your answers to the nearest whole dollar.) Job 450 Job 455 Machining Finishing Total overhead allocation Requirement 5. Based on your answers to Requirements 3 and 4, does the plantwide overhead rate overcost or undercost either job? Explain. If Cregg's sells its furniture at 125% of cost, will its choice of allocation systems affect product pricing? Explain. The single plantwide rate Job 450 by and Job 455 by at 1950/ ofCregg's Fine Furnishings manufactures upscale custom furniture. Cregg's currently uses a plantwide overhead rate based on direct labor hours to allocate its $1,300,000 of manufacturing overhead to individual jobs. However, Debra Fuller, owner and CEO, is considering refining the company's costing system by using departmental overhead rates. Currently, the Machining Department incurs $760,000 of manufacturing overhead while the Finishing Department incurs $540,000 of manufacturing overhead. Fuller has identified machine hours (MH) as the primary manufacturing overhead cost driver in the Machining Department and direct labor (DL) hours as the primary cost driver in the Finishing Department. i (Click the icon to view the job information.) Read the requirements. Requirement 1. Compute the plantwide overhead rate assuming that Cregg's expects to incur 25,000 total DL hours during the year. X First identify the formula, then compute the rate. (Round your answer to the nearest whole dollar.) More info v + Plantwide overhead rate The Cregg's plant completed Jobs 450 and 455 on May 15. Both jobs incurred a total of 6 DL hours throughout the entire production process. Job 450 incurred 2 R rates assuming that Cregg's expects to incur 15,200 MH in the Machining Department and 18,000 DL hours in the Finishing Department during the year. MH in the Machining Department and 5 DL hours in the Finishing Department Cost allocation base (estimated) (the other DL hour occurred in the Machining Department). Job 455 incurred 4 or each department. (Round your answers to the nearest whole dollar.) MH in the Machining Department and 4 DL hours in the Finishing Department Total assets Departmental (the other two DL hours occurred in the Machining Department). Total liabilities overhead rate per mach. hour Total manufacturing overhead per DL hour Print Done R Total owners' equity lantwide overhead rate, how much manufacturing overhead would be allocated to Job 450 and Job 455? Total revenues nt of manufacturing overhead that would be allocated to the jobs if the plantwide overhead rate is used. (Round your answers to the nearest whole dollar.) Manufacturing overhead allocated Job 450 Job 455 Requirement 4. If Cregg's uses departmental overhead rates, how much manufacturing overhead would be allocated to Job 450 and Job 455? Use the following table to calculate the amount of manufacturing overhead that would be allocated to the jobs if the departmental overhead rates are used. (Round your answers to the nearest whole dollar.) Job 450 Job 455 Machining Finishing Total overhead allocation Requirement 5. Based on your answers to Requirements 3 and 4, does the plantwide overhead rate overcost or undercost either job? Explain. If Cregg's sells its furniture at 125% of cost, will its choice of allocation systems affect product pricing? Explain. The single plantwide rate Job 450 by and Job 455 byCregg's Fine Furnishings manufactures upscale custom furniture. Cregg's currently uses a plantwide overhead rate based on direct labor hours to allocate its $1,300,000 of manufacturing overhead to individual jobs. However, Debra Fuller, owner and CEO, is considering refining the company's costing system by using departmental overhead rates. Currently, the Machining Department incurs $760,000 of manufacturing overhead while the Finishing Department incurs $540,000 of manufacturing overhead. Fuller has identified machine hours (MH) as the primary manufacturing overhead cost driver in the Machining Department and direct labor (DL) hours as the primary cost driver in the Finishing Department. i (Click the icon to view the job information.) Read the requirements. Requirement 1. Compute the plantwide overhead rate assuming that Cregg's expects to incur 25,000 total DL hours during the year. First identify the formula, then compute the rate. (Round your answer to the nearest whole dollar.) Plantwide overhead rate Requirement 2. Compute departmental overhead rates assuming that Cregg's expects to incur 15,200 MH in the Machining Department and 18,000 DL hours in the Finishing Department during the year. First identify the formula, then compute the rate for each department. (Round your answers to the nearest whole dollar.) Departmental overhead rate Machining per mach. hour Finishing per DL hour Requirement 3. If Cost allocation base (estimated) d rate, how much manufacturing overhead would be allocated to Job 450 and Job 455? First identify the fo Total assets g overhead that would be allocated to the jobs if the plantwide overhead rate is used. (Round your answers to the nearest whole dollar.) Total department overhead Manufacturing overhead allocated Job 450 Total hours Job 455 Total liabilities Requirement 4. If much manufacturing overhead would be allocated to Job 450 and Job 455? Total owners' equity Use the following t verhead that would be allocated to the jobs if the departmental overhead rates are used. (Round your answers to the nearest whole dollar.) Total plantwide overhead Machining Total revenues Finishing Total overhead allocation Requirement 5. Based on your answers to Requirements 3 and 4, does the plantwide overhead rate overcost or undercost either job? Explain. If Cregg's sells its furniture at 125% of cost, will its choice of allocation systems affect product pricing? Explain. The single plantwide rate Job 450 by and Job 455 by Cinna Prana's cate its calac price at 17504 of anet and the inh anet is Why the allanation custom it lone ito calnc nring will hu the allanation custom it noneCregg's Fine Furnishings manufactures upscale custom furniture. Cregg's currently uses a plantwide overhead rate based on direct labor hours to allocate its $1,300,000 of manufacturing overhead to individual jobs. However, Debra Fuller, owner and CEO, is considering refining the company's costing system by using departmental overhead rates. Currently, the Machining Department incurs $760,000 of manufacturing overhead while the Finishing Department incurs $540,000 of manufacturing overhead. Fuller has identified machine hours (MH) as the primary manufacturing overhead cost driver in the Machining Department and direct labor (DL) hours as the primary cost driver in the Finishing Department. i (Click the icon to view the job information.) Read the requirements. Requirement 1. Compute the plantwide overhead rate assuming that Cregg's expects to incur 25,000 total DL hours during the year. First identify the formula, then compute the rate. (Round your answer to the nearest whole dollar.) Plantwide overhead rate Requirement 2. Compute departmental overhead rates assuming that Cregg's expects to incur 15,200 MH in the Machining Department and 18,000 DL hours in the Finishing Department during the year. First identify the formula, then compute the rate for each department. (Round your answers to the nearest whole dollar.) Departmental overhead rate Machining per mach. hour Finishing per DL hour Requirement 3. If Cregg's continues to use the plantwide overhead rate, how much manufacturing overhead would be allocated to Job 450 and Job 455? First identify the formula, then calculate the amount of manufacturing overhead that would be allocated to the jobs if the plantwide overhead rate is used. (Round your answers to the nearest whole dollar.) Manufacturing overhead allocated Job 450 Job 455 Requirement 4. If Cregg's uses departmental overhead rates, how much manufacturing overhead would be allocated to Job 450 and Job 455? Use the following table to calculate the amount of manufacturing overhead that would be allocated to the jobs if the departmental overhead rates are used. (Round your answers to the nearest whole dollar.) Job 450 Job 455 Machining Finishing Total overhead allocation overcosts Requirement 5. Based on yo undercosts ements 3 and 4, does the plantwide overhead rate overcost or undercost either job? Explain. If Cregg's sells its furniture at 125% of cost, will its choice of allocation systems affect product pricing? Explain. The single plantwide rate Job 450 by and Job 455 by Since Cregg's sets its sales price at 125% of cost, and the job cost is by the allocation system it uses, its sales price will by the allocation system it uses.Cregg's Fine Furnishings manufactures upscale custom furniture. Cregg's currently uses a plantwide overhead rate based on direct labor hours to allocate its $1,300,000 of manufacturing overhead to individual jobs. However, Debra Fuller, owner and CEO, is considering refining the company's costing system by using departmental overhead rates. Currently, the Machining Department incurs $760,000 of manufacturing overhead while the Finishing Department incurs $540,000 of manufacturing overhead. Fuller has identified machine hours (MH) as the primary manufacturing overhead cost driver in the Machining Department and direct labor (DL) hours as the primary cost driver in the Finishing Department. i (Click the icon to view the job information.) Read the requirements. Requirement 1. Compute the plantwide overhead rate assuming that Cregg's expects to incur 25,000 total DL hours during the year. First identify the formula, then compute the rate. (Round your answer to the nearest whole dollar.) Plantwide overhead rate Requirement 2. Compute departmental overhead rates assuming that Cregg's expects to incur 15,200 MH in the Machining Department and 18,000 DL hours in the Finishing Department during the year. First identify the formula, then compute the rate for each department. (Round your answers to the nearest whole dollar.) Departmental overhead rate Machining per mach. hour Finishing per DL hour Requirement 3. If Cregg's continues to use the plantwide overhead rate, how much manufacturing overhead would be allocated to Job 450 and Job 455? First identify the formula, then calculate the amount of manufacturing overhead that would be allocated to the jobs if the plantwide overhead rate is used. (Round your answers to the nearest whole dollar.) Manufacturing overhead allocated Job 450 Job 455 Requirement 4. If Cregg's uses departmental overhead rates, how much manufacturing overhead would be allocated to Job 450 and Job 455? Use the following table to calculate the amount of manufacturing overhead that would be allocated to the jobs if the departmental overhead rates are used. (Round your answers to the nearest whole dollar.) Job 450 Job 455 Machining Finishing Total overhead allocation Requirement 5. Based on your answers to Requirements 3 and 4, do affected ad rate overcost or undercost either job? Explain. If Cregg's sells its furniture at 125% of cost, will its choice of allocation systems affect product pricing? Explain. The single plantwide rate Job 450 by an not affected 455 by Since Cregg's sets its sales price at 125% of cost, and the job cost is by the allocation system it uses, its sales price will by the allocation system it uses