Save Several years after reengineering its production process King Corporation hired a new controller Georgia Taylor (Cick the icon to view additional information) For the upcoming year, King's budgeted ABC manufacturing overhead allocation rates are as follows: (Click the icon to view the additional data) The mumber of parts is now a feasible allocation base because King recently installed a plantside computer systems King produces two wheel models: Standard and Dekos Budgeted data for the upcoming year are as follows (Click icon to view the additional data) Read the requirements Requirement 1. Compute the total budgeted manufacturing overhead cost for the upcoming year (Enter the rates to two decimal places Activity Materials handing Machine setups Insertion of parts Finishing King Corporation Total Budgeted Indirect Manufacturing Costs Budgeted Quantity of Cost Allocation Base Activity Cost Allocation Rate Total Budgeted Indirect Cost More info She developed an ABC system very similar to the one used by King's chief rival Part of the reason Taylor developed the ABC system was because King'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 Tatal budgeted indirect cont Data table Activity Cost Activity Allocation Base Allocation Rate Materials handling Number of parts 5550 per part Machine setup. Number of setups Insertion of parts Finishing Number of parts Finishing direct labor hours $325.00 per setup $24.00 por part 557 00 per hour - X Print Done