Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Textra produces parts for a machine manufacturer. Parts go through two departments, Molding and Trimming. The company budgets overhead cost of $243,750 in the Molding department and $203,750 in the Trimming department. The company budgets 16,000 machine hours (MH) in Molding and 25,000 direct labor hours (DLH) in Trimming. Actual production information follows. Exercise 17-8 (Algo) Departmental overhead rates LO P2 Required: 1. Compute a departmental overhead rate for the Molding department based on machine hours and a departmental overhead rate fo the Trimming department based on direct labor hours. 2. Determine the overhead cost per unit for each part using the departmental rates. Compute a departmental overhead rate for the Molding department based on machine hours and a departmental overhead rate for the Trimming department based on direct labor hours. Determine the overhead cost per unit for each part using the departmental rates. (Round "Overhead rate" and "Hours per unit" to 2 decimal places.)