Currently, production costs are calculated on a per unit basis (ignoring "batches"). Below is budgeted data from the third quarter. Assume that there are no beginning or ending inventories for Work-in-Process. Budgeted Data for Third Quarter Sport Model Pro Model 3.400 750 Units Produced & Sold $2.000 $6.000 Selling Price per un $475,00 $1,800.00 Estimated direct materials per un Assembly Estimated and overtread cost Estimated variable overhead cost Estimated machine hours Estimated aborc Estimated labor cost perut $820200 $275,400 21.600 51,080.000 5017847100 $380.00 $129.000 14450 5270.000 500 000000 Packaging Estimated ved overhead cost Estimated variable overhead cost Estimated machine hou Estimated labor costs Estimated labor cost per unit 5456 625 5151,875 11.200 $945.000 5277 41200 5151875 350.005 2.800 5405.000 3540000000 Budgeted Machine Hours Assembly Packaging Sport Model 21 600 11.200 Pro Model 14400 2.800 Budgeted Labor Hous Assembly Packaging Sport Model 27.000 31.500 Pro Model 6.750 13.500 Compute the following and round to two decimal places. 1. Compute the predetermined rate (the budgeted rate) used to allocate overhead to units produced, based on total direct labor costs, assuming IVC uses a single rate (plant wide rate) 2. Compute the predetermined rate (the budgeted rate) used to allocate overhead to units produced assuming IVC uses departmental rates: (a) budgeted machine hours for Assembly and (b) budgeted labor costs for Packaging