Farmer Furnishings manufactures upscale custom furniture. Farmer Furnishings currently uses a plantwide overhead rate based on direct labour hours to allocate its $1,060,000 of manufacturing overhead to individual jobs. However, Wemer Farmer, owner and CEO, is considering refining the company's costing system by using departmental overhead rales. Currently, the Machining Department incurs $990,000 of MOH while the Finishing Department incurs 3532.000 of MOH. Werner has identified machine hours (MH) as the primary MOH cost driver in the Machining Department and direct labour (DL) hours as the primary coel driver in the Finishing Department. (Click the icon to view the job information.) Requirements Requirement 1. Compute the plantwide overhead rate assuming that Farmer expects to incur 20,000 total DL hours during the year. First select the labels in the formula, and then compute the rate. (Round the plantwide overhead rate to the nearest whole dollar.) Plantwide overhead rate Requirement 2. Compute departmental overhead rates assuming that Farmer expects to incur 18,000 MH in the Machining Department and 19,000 DL hours in the Finishing Department during the year. Select the labels in the formula, and then compute the rate for each department. (Round the department overhead rates to the nearest whole dollar.) Department overhead rate Job information The Farmer Furnishings plant completed Jobs 450 and 455 on May 15. Both jobs incurred a total of 10 DL hours throughout the entire production process. Job 450 incurred 4 MH in the Machining Department and 8 DL hours in the Finishing Department. Job 455 incurred 6 MH in the Machining Department and 5 DL hours in the Finishing Department (The other DL hour occurred in the Machining Department) Machining Finishing mach. hour DL hour Requirement 3. If Farmer continues to use the plantwide overhead rate, how much manufacturing overhead would be allocated to Job 450 and Job 4557 Select the labels in the formula, and then calculate the amount of manufacturing overhead that would be allocated to the jobs if the plantwide overhead rate is used. (Round your interim and final answers to the nearest whole dollar.) Allocated manufacturing Job 450 Job 455 overhood Requirement 4. If Farmer uses departmental overhead rates, how much MOH would be allocated to Job 450 and Job 455? Use the following table to calculate the amount of manufacturing overhead that would be allocated to the jobs if the departmental overhead rates are used. (Round your interim and final answers to the nearest whole dollar.) Job 450 Job 456 Machining Finishing Total overhead allocation Print Done