Entry Rules: Round your answer to two (2) decimal places. Examples: If your answer is $24,500.4718, enter 24500.47 If your answer is $24,500.4753, enter 24500.48 If your answer is $24,500.00, enter 24500.00 If your answer is $24,500, enter 24500.00 If your answer is $0.4718, enter 0.47 If your answer is ZERO, enter 0.00 Never enter $ or, when inputting numerical answers QUESTION: David Inc. manufactures bobblehead dolls of famous baseball players. These dolls are in high demand from fans. The company currently uses a plantwide overhead rate in order to allocate overhead to each job. They use direct labour hours as their cost driver. The following estimates are available for the upcoming year: Molding Painting Direct Overhead Machine Labour Costs Hours Hours $ 240,000 40,000 15,000 $280,000 24,000 35,000 Total $520,000 64,000 50,000 Management would like to explore the use of activity based costing. For molding, the company will use machine hours as the activity driver and for painting they will use direct labour hours as the activity driver. Actual data for the past month is as follows: Actual Actual Actual Direct Overhead Machine Labour Costs Hours Hours Molding $24,000 3,500 1,150 Painting $23,000 2,200 3,100 Total $47,000 5,700 4,250 Using the above information answer the following questions. What is the activity rate that would be used for molding? HINT: remember to apply the entry rules. What is the activity rate that would be used for painting? HINT: remember to apply the entry rules. A/ What is the total overhead allocated to molding for the past month? HINT: remember to apply the entry rules. Is overhead under- or over-allocated for molding? Enter A for under-allocated Enter B for over-allocated Enter the letters without additional spaces or punctuation. By how much is the molding overhead under- or over-applied? HINT: Enter your answer as a positive number and please follow the entry rules! What is the total overhead allocated to painting for the past month? HINT: remember to apply the entry rules. Is overhead under- or over-allocated for painting? Enter A for under-allocated Enter B for over-allocated Enter the letters without additional spaces or punctuation. By how much is the painting overhead under- or over-applied? HINT: Enter your answer as a positive number and please follow the entry rules! If the company continued to use the plantwide rate, what is the total overhead allocated to production for the past month? HINT: remember to apply the entry rules. Is overhead under- or over-allocated for the month if they continued to use the plantwide overhead rate? Enter A for under-allocated Enter B for over-allocated Enter the letters without additional spaces or punctuation. By how much is the overhead under- or over-applied if the company continued to use the plantwide rate? HINT: Enter your answer as a positive number and please follow the entry rules