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The company expects to produce 500 units of each model during the year. Elton Company manufactures wheel rims. The controller expects the following ABC allocation rates for 2018: (Click the icon to view the allocation rates.) Elton produces two wheel rim models: standard and deluxe. Expected data for 2018 are as follows: (Click the icon to view the expected data.) Read the requirements Requirement 1. Compute the total estimated indirect manufacturing cost for 2018. Begin by selecting the formula to compute the total estimated overhead (OH) costs. Total estimated overhead costs Now compute the total estimated indirect manufacturing cost for 2018. Total Estimated Indirect Manufacturing Cost Activity Materials handling Machine setup Insertion of parts Finishing Total estimated Indirect manufacturing cost Requirement 2. Prior to 2018, Elton used a single plantwide overhead allocation rate system with direct labor hours as the allocation base. Compute the predetermined overhead allocation rate based on direct labor hours for 2018. Use this rate to determine the estimated indirect manufacturing cost per wheel rim for each model, to the nearest cent First, select the formula, and then enter the amounts to compute the allocation rate. Allocation rate First, select the formula, and then enter the amounts to compute the allocation rate. Allocation rate Use the single plantwide allocation rate to determine the indirect manufacturing cost per wheel rim for each model to the nearest cent. Indirect manufacturing cost per rim: Standard model: Deluxe model: Requirement 3. Compute the estimated ABC indirect manufacturing cost per unit of each model for 2018. Carry each cost to the nearest cent. Compute the costs per unit for the standard model first, then the deluxe model. (Carry the setup cost per rim to three decimal places. Round your final answers to the nearest cent.) Allocated Mfg. Allocated Mfg. OH Cost Per Rim Activity OH Cost Per Rim Standard Deluxe Materials handling Machine setup Insertion of parts Finishing Total indirect cost per rim Finishing Total Indirect cost per rim costi COSI Or 2010 Data Table ad (o Data Table Standard Deluxe B Predetermined Overhead Parts per rim 2.0 5.0 Cos imate Activity Allocation Base Allocation Rate Setups per 500 rims 17.0 17.0 icturi Materials handling Number of parts $ 7.00 per part Finishing hours per rim 4.0 4.5 Machine setup Number of setups 500.00 per setup Total direct labor hours per rim 6.0 7.0 Insertion of parts Number of parts 23.00 per part Finishing Number of finishing hours 60.00 per hour Print Done Print Done ad allocation rate system with direct labor hours as the allocation base. Compute the predetermined overtition rate system with direct labor hours as the allocation base. Compute the predetermined on for each model to the nearest cant 'n model, to the nearest cent. ost for 2018 d (OH Requirements nated turin 1. Compute the total estimated indirect manufacturing cost for 2018 2. Prior to 2018, Elton used a single plantwide overhead allocation rate system with direct labor hours as the allocation base. Compute the predetermined overhead allocation rate based on direct labor hours for 2018. Use this rate to determine the estimated indirect manufacturing cost per wheel rim for each model, to the nearest cent. 3. Compute the estimated ABC indirect manufacturing cost per unit of each model for 2018. Carry each cost to the nearest cent. Print Done 1 allocation rate system with direct labor hours as the allocation base. Compute the predetermined overh
