Exercise 4-6 (Algoplease help, will give thumbs up

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 1 in Assembly and 3 in Finishing. The company budgets production of 140 units of the standard model and 140 units of the deluxe mode 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. Compute each department's total number of budgeted direct labor hours for the year. Compute a departmental overhead rate for the Assembly department. \begin{tabular}{|l|l|l|} \hline & & \multicolumn{2}{|c|}{ Departmental OH rate } \\ \hline & & \\ \hline Compute a departmental overhead rate for the Finishing department. \\ \hline & Departmental OH rate \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|l|l|l|} \hline \multirow{1}{*}{ Department } & \multicolumn{2}{|c|}{ Departmental Overhead Rate } & \multicolumn{2}{|c|}{ Standard } \\ \cline { 3 - 6 } & & & Hours per Unit & Overhead Allocated & Hours per Unit & \multicolumn{1}{c|}{ Overhead Allocated } \\ \hline Assembly & & & & & \\ \hline Finishing & & & & & \\ \hline Totals & & & & & \\ \hline \end{tabular}