Several years after reengineering its production process, King Corporation hired a new controller, Barb Joe. (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.) Requirement 1. Compute the total budgeted manufacturing overhead cost for the upcoming year. (Enter the rates to two decimal places.) King Corporation Total Budgeted Indirect Manufacturing Costs Budgeted Quantity of 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.) Read the requirements. Activity Materials handling Machine setups Insertion of parts Finishing Total budgeted indirect cost Cost Allocation Base Activity Cost Allocation Rate Total Budgeted Indirect Cost i Data Table X iData Table Activity Allocation Base Activity Cost Allocation Rate Standard Deluxe Parts per wheel. 6.0 8.0 Materials handling.... Number of parts Machine setup ....... Number of setups $3.00 per part $350.00 per setup Setups per 1,000 wheels Finishing direct labor hours per wheel 20.0 20.0 1.5 3.5 Insertion of parts . Number of parts $24.00 per part Total direct labor hours per wheel ....... 2.6 3.8 Finishing . Finishing direct labor hours $56.00 per hour The company's managers expect to produce 1,000 units of each model during the year. Print Done Print Done X