Required Information (The following Information applies to the questions displayed below) The following data pertain to the Oneida Restaurant Supply Company for the year just ended. $280,00 336,000 8,888 20,880 14 Budgeted sales revenue Actual manufacturing overhead Budgeted machine hours (based on practical capacity) Budgeted direct-labor hours (based on practical capacity) Budgeted direct labor rate Budgeted manufacturing overhead Actual machine hours Actual direct-Labor hours Actual direct-Labor rate $364,000 11,00 18,000 $ 15 Required 1. Compute the firm's predetermined overhead rate for the year using each of the following common cost drivers: (a machine hours, (b) direct-abor hours, and direct-tabor dollars. (Round your answers to 2 decimal place.) Cost Drivers (a) Machine hours (b) Direct-Labor hours ( Direct-labor dollars Overhead Rate per machine hour per direct labor hour per direct labor dollar Required information The following information applies to the questions displayed below) The following data pertain to the Onelda Restaurant Supply Company for the year just ended Budgeted sales revenue Actual manufacturing overhead Budgeted machine hours (based on practical capacity) Budgeted direct-labor hours (based on practical capacity) Budgeted direct-labor rate Budgeted manufacturing overhead Actual machine hours Actual direct-Labor hours Actual direct-Labor rate $299, 336,080 8,899 20, see 14 $364,689 11,689 18, Bee 15 2. Calculate the overapplied or underapplied overhead for the year using each of the following cost drivers. (Round in calculation to 2 decimal places.) Amount Cost Drivers (a) Machine hours (b) Direct-labor hours (C) Direct-abor dollars Design Arts Associates is an interior decorating firm in Berlin. The following costs were incurred in the firm's contract to redecorate the mayor's offices Direct material used Direct professional labor 3,500 euros 5.000 euros The firm's budget for the year Included the following estimates: Budgeted overhead Budgeted direct professional labor seo,000 euros 250.000 euros Overhead is applied to contracts using a predetermined overhead rate calculated annually. The rate is based on direct professional labor cost Required: Calculate the total cost of the firm's contract to redecorate the mayor's offices