Multiple production department factory overhead rates The total factory overhead for Cypress Marine Company is budgeted for the year at $826,000, divided into two departments: Fabrication, $581,000, and Assembly. \$245,000. Cypress Marine manufactures two types of boats: speedboats and bass boats. The speedboats fequire one direct labor hour in Fabrication and one direct labor hour in Assembly. The bass boats require three direct labor hours in Fabrication and four direct laber hours in Assembly, Each product is budgeted for 7,000 units of 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 direct labor hours Assembly direct labor hours b. Determine the departmental factory overhead rates for both departments. Fabrication Depsrtment rate per aih Assembly Department rate 1 perdin c. Determine the foctory overhead allocated per unit for each product using the department factory overhead allocation rates. Total factory overhead 5 per speedboat Total factory overhead 1 per bass boat