Several years after reengineering its production process, King Corporation hired a new controller, Tammy English. i (Click 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 number of parts is now a feasible allocation base because King recently installed a plantwide computer system. King produces two wheel models: Standard and Deluxe. Budgeted data for the upcoming year are as follows: (Click the icon to view the additional data.) Data table Parts per wheel.. Setups per 1,000 wheels... - Standard Deluxe 6.0 8.0 20.0 20.0 1.5 3.5 2.6 3.8 Finishing direct labor hours per wheel .... Total direct labor hours per wheel........ The company's managers expect to produce 1,000 units of each model during the year. Print Done Data table Activity Allocation Base Activity Cost Allocation Rate Materials handling ... Number of parts Machine setup........ Number of setups $3.00 per part $350.00 per setup Insertion of parts ..... Number of parts $24.00 per part Finishing Finishing direct labor hours $56.00 per hour Print Done - X Activity Materials handling Machine setups Insertion of parts Finishing Total Budgeted Indirect Manufacturing Costs Budgeted Quantity of Cost Allocation Base Activity Cost Allocation Rate Total Budgeted Indirect Cost Total budgeted indirect cost Requirement 2. Compute the manufacturing overhead cost per wheel of each model using ABC. (Round the cost allocation base to three decimals and cost per wheel to the nearest cent.) Trudell Corp. ABC Indirect Manufacturing Cost per Unit Activity Materials handling Machine setup Insertion of parts Finishing Cost Allocation Rate Standard Quantity of Cost Allocation Base Used By: Deluxe Allocated Activity Cost Per Wheel Standard Deluxe Total ABC allocated indirect cost Requirement 3. Compute Trudell's traditional plantwide overhead rate. Use this rate to determine the manufacturing overhead cost per wheel under the traditional system. Begin by identifying the formula to compute the current plantwide manufacturing overhead rate, then compute the rate. (Round your answer to the nearest cent.) Plantwide overhead rate per DL hour Now use the plantwide overhead rate to determine the manufacturing overhead cost per wheel. (Round your answers to the nearest cent.) Standard Deluxe x x Manufacturing overhead Several years after reengineering its production process, King Corporation hired a new controller, Tammy English. i (Click 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 number of parts is now a feasible allocation base because King recently installed a plantwide computer system. King produces two wheel models: Standard and Deluxe. Budgeted data for the upcoming year are as follows: (Click the icon to view the additional data.) Data table Parts per wheel.. Setups per 1,000 wheels... - Standard Deluxe 6.0 8.0 20.0 20.0 1.5 3.5 2.6 3.8 Finishing direct labor hours per wheel .... Total direct labor hours per wheel........ The company's managers expect to produce 1,000 units of each model during the year. Print Done Data table Activity Allocation Base Activity Cost Allocation Rate Materials handling ... Number of parts Machine setup........ Number of setups $3.00 per part $350.00 per setup Insertion of parts ..... Number of parts $24.00 per part Finishing Finishing direct labor hours $56.00 per hour Print Done - X Activity Materials handling Machine setups Insertion of parts Finishing Total Budgeted Indirect Manufacturing Costs Budgeted Quantity of Cost Allocation Base Activity Cost Allocation Rate Total Budgeted Indirect Cost Total budgeted indirect cost Requirement 2. Compute the manufacturing overhead cost per wheel of each model using ABC. (Round the cost allocation base to three decimals and cost per wheel to the nearest cent.) Trudell Corp. ABC Indirect Manufacturing Cost per Unit Activity Materials handling Machine setup Insertion of parts Finishing Cost Allocation Rate Standard Quantity of Cost Allocation Base Used By: Deluxe Allocated Activity Cost Per Wheel Standard Deluxe Total ABC allocated indirect cost Requirement 3. Compute Trudell's traditional plantwide overhead rate. Use this rate to determine the manufacturing overhead cost per wheel under the traditional system. Begin by identifying the formula to compute the current plantwide manufacturing overhead rate, then compute the rate. (Round your answer to the nearest cent.) Plantwide overhead rate per DL hour Now use the plantwide overhead rate to determine the manufacturing overhead cost per wheel. (Round your answers to the nearest cent.) Standard Deluxe x x Manufacturing overhead