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PepsiCo produces two products: Pepsi and Mountain Dew. The total overhead cost is $50,000,000, with 70,000 machine hours for Pepsi and 90,000 machine hours for

PepsiCo produces two products: Pepsi and Mountain Dew. The total overhead cost is $50,000,000, with 70,000 machine hours for Pepsi and 90,000 machine hours for Mountain Dew. Calculate the overhead rate per machine hour and the overhead allocated to each product. Prepare a classified balance sheet as of December 31, 20X1.

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