Elegant Doors, Inc., produces two types of doors, interior and exterior. The company's simple costing system has two direct cost categories (materials and labor) and one indirect cost pool. The simple costing system allocates indirect costs on the basis of machine-hours. Recently, the owners of Elegant Doors have been concerned about a decline in the market share for their interior doors, usually their biggest seller. Information related to Elegant Doors production for the most recent year follows (Click the icon to view the production data.) (Click the icon to view additional information.) Read the requirements Requirement 1. Calculate the cost of an interior door and an exterior door under the existing simple costing system Before calculating the cost of an interior and exterior door, begin by calculating the overhead rate under the simple costing system. First select the formula, then enter the applicable amounts and calculate the rate. (Round your answer to the nearest cent. Abbreviations used: bgt. budgeted, qty-quantity.) Budgeted overhead rate Simple costing system - Elegant Doors, Inc., produces two types of doors, interior and exterior. The company's simple costing system has two direct cost categories (materials and labor) and one indirect cost pool. The simple costing system allocates indirect costs on the basis of machine-hours. Recently, the owners of Elegant Doors have been concerned about a decline in the market share for their interior doors, usually their biggest seller. Information related to Elegant Doors production for the most recent year follows (Click the icon to view the production data.) (Click the icon to view additional information.) Read the requirements Requirement 1. Calculate the cost of an interior door and an exterior door under the existing simple costing system Before calculating the cost of an interior and exterior door, begin by calculating the overhead rate under the simple costing system. First select the formula, then enter the applicable amounts and calculate the rate. (Round your answer to the nearest cent. Abbreviations used: bgt. budgeted, qty-quantity.) Budgeted overhead rate Simple costing system