Jameson's Fine Furnishings manufactures upscale custom furniture Jameson's currently uses a plantwide overhead rate based on direct labor hours to allocate its $1,070,000 of manufacturing overhead to individual jobs. However, Debra Howards, owner and CEO, is considering refining the company's costing system by using departmental overhead rates. Currently, the Machining Department incurs $630,000 of manufacturing overhead while the Finishing Department incurs $440,000 of manufacturing overhead. Howards has identified machine hours (MH) as the primary manufacturing overhead cost driver in the Machining Department and direct labor (DL) hours as the primary cost driver in the Finishing Department (Click the icon to view the job information.) Read the requirements KENA Requirement 1. Compute the plantwide overhead rate assuming that Jameson's expects to incur 21,400 total DL hours during the year. First identify the formula, then compute the rate. (Round your answer to the nearest whole dollar.) Plantwide overhead rate

Jameson's Fine Furnishings manufactures upscale custom fumiture Jamescri's currently uses a plantwide ovethead rate based on ciect labor hours to allocote its $1,070.000 of manufacturing overhead to individual jobs. However. Dobra Howards, owner and CEO, is considering refining the company's costing system by using departmental overhead rates. Currently, the Machining Department incurs $630,000 of manulacturing overhead while the Finishing Department incurs $440.000 of manufacturing overhead Howards has identified machine hours (MH) as the primary manufacturing overhead cost diver in the Machining Department and drect labor (DL) heurs as the primary cost diver in the finishing Department (Click the icon to view the job information.) Read the requirements Requirement 1. Compute the plantwide owerhesd rate assuming that Jameson's expects to incur 21,400 total DL hours during the year Fisst identify the formula, then compute the rate: (Round your answer to the nestest whole dolar). Requirements 1. Compute the plantwide overhead rate assuming that Jameson's expects to incur 21,400 total DL hours during the year 2. Compute departmental overhead rates assuming that Jameson's expects to incur 15,000MH in the Machining Department and 17,600 DL hours in the Finishing Department during the year: 3. If Jameson's continues to use the plantwide overhead rate, how much manufacturing overhead would be allocated to Job 450 and Job 455 ? 4. If Jameson's uses departmental overhead rates, how much manufacturing overhead would be allocated to Job 450 and Job 455 ? 5. Based on your answers to Requirements 3 and 4 , does the plantwide overhead rate overcost or undercost either job? Explain. If Jameson's sells its furniture at 125% of cost, will its choice of allocation systems affect product pricing? Explain More info The Jameson's plant completed Jobs 450 and 455 on May 15. Both jobs incurred a total of 6DL hours throughout the entire production process. Job 450 incurred 2MH in the Machining Department and 5DL hours in the Finishing Department (the other DL hour occurred in the Machining Department). Job 455 incurred 5MH in the Machining Department and 4DL hours in the Finishing Department (the other two DL hours occurred in the Machining Department)