Problem #2: Manufacturing Overhead (24 points) Beckham Spice Products Mfg. Corp. applies overhead based on machine hours used. The following information was obtained from the budget of Beckham Spice Products Mfg. Corp. for 2017: Total Budgeted Overhead Costs for 2017 Total Budgeted Machine Hours for 2017 Total Budgeted Direct Labor Hours for 2017 Total Budgeted Direct Labor Costs for 2017 $17,187,500 275,000 MHS. 625.000 DLHS. $13,750,000 (4 points) a. Compute the predetermined overhead rate that Beckham Spice Supporting Calculation Required: Your Answer Products Mfg. Corp. would use for 2017 During 2017, Beckham Spice Products Mfg. Corp. reported the following: Total Actual Overhead Costs for 2017 Total Actual Machine Hours Used during 2017 Total Actual Labor Hours Used during 2017 Total Actual Direct Labor Costs during 2017 $17,912,300 286,000 MHS. 637,400 DLHS. 14,341,500 (4 points) Your Answer b. Compute the total amount of overhead applied into work in-process by Beckham Spice Products Mfg. Corp. during 2017 Supporting Calculation Required