Multiple production department factory overhead rates The total factory overhead for Cypress Marine Company is budgeted for the year at $1,335,000, divided into two departments: Fabrication, $891,000, and Assembly, \$44,000. Cypress Marine manufactures two types of boats: speedboats and bass boats. The speedboats require four direct labor hours in Fabrication and four direct labor hours in Assembly. The bass boats require two direct labor hours in Fabrication and four direct labor hours in Assembly: Each product is budgeted for 6,000 units production for the year. If required, round all per unit answers to the nearest cent. a. Determine the total number of budgeted direct labor hours for the year in each department. Fabrication X direct labor hours Assembly X direct labor hours b. Determine the departmental factory overhead rates for both departments. Fabrication Department rate s X per dih Assembly Department rate $ X per dih c. Determine the factory overhead allocated per unit for each product using the department factory overhead allocation rates. Total factory overhead $ X per speedboat Total factory overhead $ X per bass boat T Orock My Work Calculate: (a) For each department, multiply Number of Boat Type Direct Labor Hours required. Add both boat hours together to obtain the total for the departinent. (b) Total Overhead for each Department + Hours calculated in Req. (a) = Departmental Rate (c) For each boat type, determine the Overhead from each department by multiplying Direct Labor Hours x Rate determined in Req. (b). Then add together the overhead from both departments for each boat type to obtain overhead allocated per unit of product