Several years after reengineering its production process, Trudell Corporation hired a new controller, Barb Joe. (Click the icon to view additional information.) For the upcoming year, Trudell'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 Trudell recently installed a plantwide computer system. Trudell 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 Requirement 1. Compute the total budgeted manufacturing overhead cost for the upcoming year. (Enter the rates to two decimal places.) Trudell Corporation Total Budgeted Indirect Manufacturing Costs Activity Materials handling Machine setups Insertion of parts Finishing Total budgeted indirect cost Budgeted Quantity of Activity Cost Total Budgeted Cost Allocation Base Allocation Rate Indirect Cost Requirements 1. Compute the total budgeted manufacturing overhead cost for the upcoming year. 2. Compute the manufacturing overhead cost per wheel of each model using ABC. 3. Compute the company's traditional plantwide overhead rate. Use this rate to determine the manufacturing overhead cost per wheel under the traditional system. - X More info She developed an ABC system very similar to the one used by Trudell's chief rival. Part of the reason Joe developed the ABC system was because Trudell'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. - Data table Activity Cost Activity Allocation Base Allocation Rate Materials handling .... Number of parts $5.50 per part Machine setup.... Number of setups $325.00 per setup Insertion of parts Number of parts Finishing Finishing direct labor hours $24.00 per art $57.00 per hour - X ta. Data table X Standard Deluxe Parts per wheel 6.0 8.0 Setups per 1,000 wheels..... Finishing direct labor hours per wheel.... 20.0 20.0 1.0 3.0 Total direct labor hours per wheel..... 2.6 3.4 t The company's managers expect to produce 1,000 units of each model during the year