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 $255,000 in the Molding department and $215,000 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. Holding Department Part 2 Part X Totals Number of Units 3,000 4,000 ing Department Houes per Unit Total Hours 2.00 per unit 2.5 per unit 6.000 H 10,000 1 16,000 H Hours per init DLH per unit DLH per un Total hours 9,000 DU 16,000 0LM 25,000 DLH Exercise 4-8 (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 for The Trimming department based on direct labor hours 2. Determine the overhead cost per unit for each part using the departmental rates Check my work