E4-9 (Static) Calculating Traditional Overhead Rates, Assigning Costs [LO 4-1) Schell Company manufactures automobile floor mats. It currently has two product lines, the Standard and the Deluxe. Schell has a total of $39,060 in overhead. It currently uses a traditional cost system with overhead applied to the product on the basis of elther labor hours or machine hours. Schell has compiled the following information about possible cost drivers and its two product lines: Schell Company Total 600 labor hours 7,150 machine hours Quantity/Amount Consumed by Standard Floor Mat Line 480 labor hours 4,150 machine hours Quantity/Amount Consumed by Deluxe Floor Mat Line 200 labor hours 3,000 machine hours Required: 1. Suppose Scheil uses a traditional costing system with direct labor hours as the cost driver. Determine the amount of overhead assigned to each product line. 2. Suppose Schell uses a traditional costing system with machine hours as the cost driver. Determine the amount of overhead assigned to each product line. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Suppose Schell uses a traditional costing system with direct labor hours as the cost driver. Determine the amount of overhead assigned to each product line. (Round activity rates answers to 2 decimal places.) Overhead Assigned Standard Floor Mat Deluxe Floor Mat Required 2 > Schell Company manufactures automobile floor mats. It currently has two product lines, the Standard and the Deluxe Schell has a total of $39,060 in overhead. It currently uses a traditional cost system with overhead applied to the product on the basis of either labor hours or machine hours. Schell has compiled the following information about possible cost drivers and its two product lines: Quantity/Amount Quantity/Amount Consumed by Consumed by Schell Company Total Standard Floor Mat Line Deluxe Floor Mat Line 600 labor hours 400 labor hours 200 labor hours 7. 150 machine hours 4,158 machine hours 3,000 machine hours Required: 1. Suppose Schell uses a traditional costing system with direct labor hours as the cost driver. Determine the amount of overhead assigned to each product line. 2. Suppose Schell uses a traditional costing system with machine hours as the cost driver. Determine the amount of overhead assigned to each product line. Complete this question by entering your answers in the tabs below. Required: Reagired2 Suppose Schell uses a traditional costing system with machine hours as the cost driver. Determine the amount of overhead assigned to each product line. (Round activity rates to 4 decimal places and final answers to 2 decimal places.) Onroad Assigned Standard Floor Mat Deluxe Floor Mal (Required
