Edmund Company manufactures wheel rims. The controller expects the following ABC allocation rates for 2018: (Click the icon to view the allocation rates.) Edmund produces two wheel rim models: standard and deluxe. Expected data for 2018 are as follows: (Click the icon to view the expected data.) ---- The company expects to produce 500 units of each model during the year. Read the requirements. - Data table Activity Allocation Base Materials handling Machine setup Insertion of parts Finishing Number of parts Number of setups 200.00 per setup Predetermined Overhead Allocation Rate $3.00 per part Parts per rim Setups per 500 rims Standard Deluxe 8.0 10.0 16.0 16.0 Number of parts 22.00 per part Finishing hours per rim 6.0 6.5 Number of finishing hours 60.00 per hour Total direct labor hours per rim 7.0 9.0 Data table Print Done Print Done Requirement 1. Compute the total estimated indirect manufacturing cost for 2018. Begin by selecting the formula to compute the total estimated overhead (OH) costs. Now compute the total estimated indirect manufacturing cost for 2018. Activity Materials handling Machine setup Total Estimated Indirect Manufacturing Cost = Total estimated overhead costs Insertion of parts Finishing Total estimated indirect manufacturing cost Requirement 2. Prior to 2018, Edmund used a single plantwide overhead allocation rate system with direct labor hours as the allocation base. Compute the predetermined overhead allocation rate based on direct labor hours for 2018. Use this rate to determine the estimated indirect manufacturing cost per wheel rim for each model, to the nearest cent. First, select the formula, and then enter the amounts to compute the allocation rate. = Allocation rate Use the single plantwide allocation rate to determine the indirect manufacturing cost per wheel rim for each model, to the nearest cent. Indirect manufacturing cost per rim: Standard model: Deluxe model: Requirement 3. Compute the estimated ABC indirect manufacturing cost per unit of each model for 2018. Carry each cost to the nearest cent. Compute the costs per unit for the standard model first, then the deluxe model. (Carry the setup cost per rim to three decimal places. Round your final answers to the nearest cent.) Allocated Mfg. Allocated Mfg. Activity Materials handling Machine setup Insertion of parts Finishing Total indirect cost per rim OH Cost Per Rim OH Cost Per Rim Standard Deluxe