Score: 0 of 1 pt 1 of 2 (1 complete) HW Score: 47.83%, 0.96 of 2 pts E4-25 (similar to) Question Help The Lynn Company uses a normal job-costing system at its Minneapolis plant. The plant has a machining department and an assembly department. Its job-costing system has two direct-cost categories (direct materials and direct manufacturing labor) and two manufacturing overhead cost pools (the machining department overhead, allocated to jobs based on actual machine-hours, and the assembly department overhead, allocated to jobs based on actual direct manufacturing labor costs). The 2017 budget for the plant is as follows: (Click the icon to view the budget data.) Read the requirements aiz Requirement 1. Identify the components of the overview diagram of Lynn's job-costing system. Compute the budgeted manufacturing overhead rate for each department. (Abbreviations used: Manuf - manufacturing.) Machining Assembly Manufacturing overhead Direct manufacturing labor costs Direct manufacturing labor-hours Machine-hours Machining Department Assembly Department $ 1,800,000 $ 4,000,000 1,000,000 $ 2,000,000 140,000 240,000 60,000 240,000 onours Print Done Clear All 1. Identify the components of the overview diagram of Lynn's job-costing system. Compute the budgeted manufacturing overhead rate for each department. 2. During February, the job-cost record for Job 494 contained the following: Machining Department Assembly Department Direct material used 43,000 $ 72,000 Direct manufacturing labor costs $ 18,000 $ 20,000 Direct manufacturing labor-hours 1,300 1,400 Machine-hours 2,300 1,600 Compute the total manufacturing overhead costs allocated to Job 494 3. At the end of 2017, the actual manufacturing overhead costs were $2,200,000 in machining and $5,200,000 in assembly Assume that 64,000 actual machine-hours were used in machining and that actual direct manufacturing labor costs in assembly were $2,300,000. Compute the over- or underallocated manufacturing overhead for each department 6} } Choose from any drop-down list and then click Check