Save Homework: Chapter 5 HW Assignment Score: 0 of 1 pt E5-24 (similar to) 4 of 4 10 complete) HW Score: 0%, 0 of 4 pt Question Help RSP is an architectural tim that designs and builds buildings It prices each ob on a cost plus 20% bass Overhead costs in 2017 are $6.405 OVO RSP's simple costing system alocates overhead costs to Hachs based on number of obs There were three Ichs in 2017 Ona customer Ross, has complanad that the cost and price of its building in Chinaga was not compte. As a result the controller has intiated a natated review of the warhead allocation to determine if owerhead costs should be charged to jobs in proportion 10 consumation of overhead resources by jabs. She gather the following information: (Click the loon to view the information.) Read the requirements Requirement 1. Compute the overhead allocated to each project in 2017 using the simple cosing system that allocates overhead costs to jobs based on the number of jobs. Determine the formula needed to calculate overhead using the simple costing method and then calculate the overheed rate for 2017. (Round your answer to the nearest collar) = Overhead cost per project per project i Requirements i Data Table Quantity of Cost Drivers Used by Each Project 1. Campule the overhead allacalud lotach project in 2017 using the simple casting system that allocates averhead Coelslo jobs based on the number of jobs. 2. Compute the overhead allocated to each project in 2017 using department overhead cost rates. 3. Do you think Rose had a valid reason for dissateraction with the cost and price of its building? How does the Bllocation based on department rates change costs for each project? 4. What value, if any, would RSP get by allocating costs of each deparlment based on the activilies done in that department? Department Design Engineering Construction Cost Driver Design department hours Number of engineering hours Labor-hours Overhead Costs in 2017 $ 2,257,500 787,500 3,380,000 Ross 2,120 4.140 31,400 Aegean 9,000 4,040 27,400 L andon 9.580 2.320 25.200 Print Done 6,405,DID Total Print Done Choose from any list or enter any number in the input fields and then click Check