Requirement 1. Compute the total budgeted manufacturing overhead cost for the upcoming year. (Enter the rates to two decimal places.) More Info Activity Materials handling Machine setups Insertion of parts Finishing Total budgeted indirect Requirement 2. Compu She developed an ABC system very similar to the one used by Zippy's chief rival. Part of the reason Miller developed the ABC system was because Zippy's profits had been declining even though the company had shifted its product mix toward the product that had appeared most profitable under the old system. Before adopting the new ABC system, the company had used a plantwide overhead rate based on direct labor hours that was developed years ago PrintDone ion base to three decimals and cost per wheel to the nearest cent.) Zippy Corporation ABC Indirect Manufacturing Cost per Unit Quantity of Cost Allocation Base Used By: Allocated Activity Cost Per Wheel StandardDeluxe Cost 1 Data Table Activity Allocation Rate Standard Deluxe Materials handling Machine setup Insertion of parts Finishing Total ABC allocated indirect cost 3.00 375.00 28.00 55.00 Standard Deluxe Setups per 1,000 wheels Finishing direct labor hours per wheel.... Total direct labor hours per wheel 4.0 20.0 1.2 2.1 6.0 20.0 2.6 3.9 Data Table The company's managers expect to produce 1,000 units of each model during the year Print Done Activity Cost Allocation Rate $ 3.00 per part $ 375.00 per setup $ 28.00 per part $55.00 per hour Activity Allocation Base Materials handling . .. . Number of parts Machine setup Insertion of parts Finishing Number of setups .Number of parts Finishing direct labor hours Print Done