Homework: M 7 Homework B _ Graded Question 2, EM7-15 (Slm... HWScore: 76.94%, 23.06 at 30 paints Pan l: ' @ Points: 3.75 of6 Vernon makes handheld calculators in two models-basic and professionaland wants to rene its costing system by allocating overhead using departmental rates The estimated $851,500 of manutactunng overhead has been divided into two cost pools Assembly Department and Packaging Department, The followmg data have been compiled: m (Click the icon to View the data ) Read the @uirements. Compute the predetermined overhead allocation rates using machine hours as the allocation base for the Assembly Department and direct labor hours for the Packaging Department Elegin by selecting the formula to calculate the predetermined overhead (OH) allocation rate Then enter the amounts to compute the allocation rate for each department (AbbreVlation used Qty : quantity Enter the allocation rates to the nearest cent ) Predetermin ed OH Estimated overhead costs 7 Estimated qty of the allomtloh base : allocation rate X Assembly 35 550,000 a 500,000 = $ 1 10 Requirement Packaging $ 301,500 r 502, 500 : $ 060 How much overhead lS allocated to the [)3le model? To the professional model? Compute lhe predetermined overhead allocation ram usmg machine hours aslhe allocation base for the Assembly Department and dired labor hours for the Elegin by selecting the formula to allocate overhead (OH) costs. (Abbrelnation used: Qty : quantity.) Packaging Department How much overhead is allocated to the basic model? To the professional modeI'J Round allocation rates to two decimal places and Predeterrnined OH allocation rate x Actual qty of the allocation base used : Allocated mfg overhead costs allocated costs to whole dollars Compute the total overhead allocated to the basic model, and then compute the total overhead allocated to the professional model, Basic Model Professional Model Manufacturing overheadiAssembly $ 159,500' Manufacturing overheadiPackaglng w: Total manufacturing overhead cost A