Exercise 17-1 (Algo) Using plantwide overhead rate to allocate overhead LO P1 Shakti Company budgets overhead cost of $80,000 for the year. The company reports the following for its standard and deluxe models. 1. Compute a single plantwide overhead rate assuming the company allocates overhead cost based on 8,000 direct labor hours. 2. The standard model uses 2 direct labor hours per unit and the deluxe model uses 3 direct labor hours per unit. Compute overhead cost per unit for each modet. 3. Compute the total product cost per unit for both models. Complete this question by entering your answers in the tabs below