Exercise 4-6 (Algo) Computing departmental overhead rates LO P2 Hydro Sports budgets overhead cost of $581,000 for the year, of this amount, $357,000 is traceable to the Assembly department and $224,000 is traceable to the Finishing department. The company manufactures two types of jet skis: standard and deluxe. Budgeted direct labor hours for the standard model are 7 in Assembly and 1 in Finishing. Budgeted direct labor hours for the deluxe model are 10 in Assembly and 3 in Finishing. The company budgets production of 140 units of the standard model and 140 units of the deluxe model for the year. 1. Compute each department's total number of budgeted direct labor hours for the year. 2. Compute departmental overhead rates for each department using direct labor hours for that department. 3. Compute overhead cost per unit for each model using departmental overhead rates. Actual direct labor hours for the standard model are 7 in Assembly and 1 in Finishing. Actual direct labor hours for the deluxe model are 10 in Assembly and 3 in Finishing. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute each department's total number of budgeted direct labor hours for the year. Number of Units Assembly Department DLHs per Unit Total Hours Finishing Department DLHs per Unit Total Hours Standard Deluxe Totals Required 1 Required 2 Required 3 Compute departmental overhead rates for each department using direct labor hours for that department. Compute a departmental overhead rate for the Assembly department. Departmental OH rate Compute a departmental overhead rate for the Finishing department. Departmental OH rate Required 1 Required 2. Required 3 Compute overhead cost per unit for each model using departmental overhead rates. Actual direct labor hours for the standard model are 7 in Assembly and 1 in Finishing. Actual direct labor hours for the deluxe model are 10 in Assembly and 3 in Finishing. Deluxe Department Departmental Overhead Rate Standard Overhead Hours per Unit Allocated Hours per Unit Overhead Allocated Assembly Finishing Totals