Evan's Fine Furnishings manufactures upscale custom furniture. Evan's currently uses a plantwide overhead rate based on direct labor hours to allocate its $1,100,000 of manufacturing overhead to individual jobs. However, Donna Fuller, owner and CEO, is considering refining the company's costing system by using departmental overhead rates. Currently, the Machining Department incurs $740,000 of manufacturing overhead while the Finishing Department incurs $360,000 of manufacturing overhead. Fuller has identified machine hours (MH) as the primary manufacturing overhead cost driver in the Machining Department and direct labor (DL) hours as the primary cost driver in the Finishing Department (Click the icon to view the job information.) Read the requirements. Finishing 360,000 18.000 -5 201 per DL hour Requirement 3. If Evan's continues to use the plantwide overhead rate, how much manufacturing overhead would be allocated to Job 450 and Job 4557 First identify the formula, then calculate the amount of manufacturing overhead that would be allocated to the jobs if the plantwide overhead rate is used. (Round your answers to the rest whole dollar) Job 450 Job 455 Manufacturing overhead afocated Requirements 1. Compute the plantwide overhead rate assuming that Evan's expects to incur 27,500 total DL hours during the year. 2. Compute departmental overhead rates assuming that Evan's expects to incur 14,800 MH in the Machining Department and 18,000 DL hours in the Finishing Department during the year. 3. If Evan's continues to use the plantwide overhead rate, how much manufacturing overhead would be allocated to Job 450 and Job 455? 4. If Evan's uses departmental overhead rates, how much manufacturing overhead would be allocated to Job 450 and Job 455? 5. Based on your answers to Requirements 3 and 4, does the plantwide overhead rate overcost or undercost either job? Explain. If Evan's sells its furniture at 125% of cost, will its choice of allocation systems affect product pricing? Explain