SAB: Acctg 4acc [3028] BSA-1D: Exercise 2 - Factory Overhead All X C Search Textbook Solutions | Chec x + c 0 File C:/Users/Admin/Downloads/Exercise%202%20-%20Factory%20Overhead%20Allocation.pdf Exercise 2 - Factory Overhead Allocation.pdf 1 / 1 T- 100% + CNC Problem 2. To determine an overhead application rate for its Machining and Assembly Departments, the management of Knight Co. requested the following overhead cost data for June: Machining Department 60 15,000 Assembly Department 40 10,000 Total 100 25,000 P2.000 P 2.500 Item Number of employees. Square footage. Monthly average wage per employee (direct and indirect) Overhead directly chargeable to department (excluding indirect labor) Materials used. Factory rent. Other building costs. Payroll Department cost Freight-in and other Receiving Department costs P 75.000 P 90.000 60,000 90,000 ? ? ? P165,000 150,000 33,000 60,000 18,000 ? 75,000 In each department, 80% of the employees are dire laborers. Overhead is charged to production on the basis of direct labor pesos. The allocation basis for other data is as follows: all building costs, square footage: Payroll Department cost, number of employees; freight-in and other Receiving Department costs, materials used. Required: (1) (2) Compute the total overhead chargeable to the Machining and Assembly Departments. Compute the overhead application rate as a percentage of direct labor cost for each department. (Round to the nearest whole percent.) H FI 3:19 PM 4/17/2021