Elton Company manufactures wheel rims. The controller expects the following ABC allocation rates for 2014: (Click the icon to view the allocation rates.) Elton produces two wheel rim models: standard and deluxe. Expected data for 2014 are as follows: (Click the icon to view the expected data.) The company expects to produce 500 units of each model during the year. Requirements 1. Compute the total estimated indirect manufacturing cost for 2014. 2. Compute the estimated ABC indirect manufacturing cost per unit of each model. Carry each cost to the nearest cent. 3. Prior to 2014, Elton used a direct labor hour single plantwide allocation rate system. Compute the allocation rate based on direct labor hours for 2014. Use this rate to determine the estimated indirect manufacturing cost per whoelriri for each model, to the nearest cont. Data Table Requirement 1. Compute the total estimated indirect manufacturing cost for 2014 Begin by selecting the formula to compute the total estimated overhead (OH) costs. Total estimated overhead costs Predetermined Overhead Allocation Base Predetermined overhead allocation rate x Total estimated qty of the allocation base Now compute the total estimated indirect manufacturing cost for 2014. Total Estimated Activity Indirect Manufacturing Cost Materials handling Machine setup Insertion of parts Activity Materials handling Machine setup Insertion of parts Number of parts Number of setups Number of parts Number of finishing hours Allocation Rate S 4.00 per part 500.00 per setup 23.00 per part 50.00 per hour Finishing Data Table Print Done Finishing Total estimated indirect manufacturing cost Standard Deluxe 6.0 9.0 Enter any number in the edit fields and then click Check Answer. 17.0 17.0 ? Parts per rim Setups per 500 rims Finishing hours per rim Total direct labor hours per rim 5.0 6.5 4 parts remaining - Check Answer 6.0 7.0