Question 4 (22 marks) Helm Ltd. has two production departments and two service department and presented the following data for the period ending 30 June 2020. The production departments are forming and assembly and the service departments are maintenance and stores. The following budgeted overheads and budgeted activity levels have been provided: Overhead cost Labour hours Machine hours Forming $560,000 65,000 80,000 Assembly $430,000 88,000 72,000 Maintenance $250,000 It has been estimated that service department usage is as follows: Maintenance Stores Forming 30% 40% Assembly 55% 50% Stores $130,000 Maintenance Stores 15% 10% Actual overheads and activity levels in the production departments were as follows: Forming Labour hours 73,000 Assembly 89,000 Machine hours 95,000 64,000 Overhead cost $680,000 $760,500 Required: (a) Use the simultaneous equation method to derive the re-allocated overheads to production departments and derive the overhead absorption rates for these departments. (b) Calculate the over/under absorption of overheads in each department. (c) Explain the terms 'overhead allocation' and 'overhead apportionment". (14 marks) (4 marks) (4 marks)