Several years after reengineering its production process, Trudell Corporation hired a new controller Jane Smith (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 Budgeted Quantity of Activity Cost Allocation Base Activity Cost Allocation Rate Total Budgeted Indirect Cost Materials handling Machine setups Insertion of parts Frishing Total budgeted indirect cost I x She developed an ABC system very similar to the one used by Trudell's chief rival. Part of the reason Smith 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. 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. Compule the company's traditional plantwide overhead rate. Use this rate to determine the manufacturing overhead cost per wheel under the traditional system Data table - X Data table $4.00 per part $450.00 per setup $26.00 per part Parts per wheel.. Setups per 1,000 wheels... Finishing direct labor hours per wheel.... Total direct labor hours per wheel.. Standard Deluxe 4.0 60 20.0 20.0 1.1 24 26 32 The company's managers expect to produce 1,000 units of each model during the year. Activity Allocation Base Activity Cost Allocation Rate Materials handling....Number of parts Machine setup.. Number of setups Insertion of parts Number of parts Finishing Finishing direct labor hours $50.00 per hour