Part 1 of 7 Points: 0 of 2 Uncle Joe Snacks makes potato chips, corn chips, and cheese puffs using three different production lines within the same manufacturing plant. Currently, Uncle Joe uses a single plantwide overhead rate to allocate its $3,131,300 of annual manufacturing overhead. Of this amount, $1,881,000 is associated with the potato chip line, $588,800 is associated with the corn chip line, and $661,500 is associated with the cheese puff line. Uncle Joe's plant is currently running a total of 17,300 machine hours: 11,400 in the potato chip line, 3,200 in the corn chip line, and 2,700 in the cheese puff line. Uncle Joe considers machine hours to be the cost driver of manufacturing overhead costs. Read the requirements. 1. What is Uncle Joe's plantwide overhead rate? Determine the formula for calculating the plantwide overhead rate, then calculate the rate. Department hours Total assets Total department overhead Total machine hours Total liabilities Total manufacturing overhead Total owners' equity Total revenues Plantwide overhead rate Requirements 1. What is Uncle Joe's plantwide overhead rate? 2. Calculate the departmental overhead rates for Uncle Joe's three production lines. Round all answers to the nearest cent. 3. Which products have been overcosted by the plantwide rate? Which products have been undercosted by the plantwide rate? Print Done 1. What is Uncle Joe's plantwide overhead rate? Determine the formula for calculating the plantwide overhead rate, then calculate the rate. Department hours Total assets Total department overhead Total machine hours Total liabilities Total manufacturing overhead Total owners' equity Total revenues Plantwide overhead rate