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Fast & Furious Company produces two products: toy planes and toy race cars. It uses departmental overhead rates for the two production departments: Molding and

Fast & Furious Company produces two products: toy planes and toy race cars. It uses departmental overhead rates for the two production departments: Molding and Finishing. Molding uses machine hours to assign overhead, and Finishing uses direct labor hours. 50,000 planes and 200,000 race cars are produced. Fast & Furious has prepared the following data:

Molding

Finishing

Total

Estimated overhead

$250,000

$100,000

$350,000

Actual overhead

$240,000

$120,000

$360,000

Expected direct labor hours:

Planes

5,000

35,000

40,000

Race cars

5,000

5,000

10,000

Expected machine hours:

Planes

7,000

3,000

10,000

Race cars

3,000

17,000

20,000

Actual direct labor hours:

Planes

4,500

5,500

10,000

Race cars

5,500

34,500

40,000

Actual machine hours:

Planes

16,500

3,500

20,000

Race cars

3,200

6,800

10,000

What are the departmental overhead rates for the Molding and Finishing department, respectively?

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