Several years after reengineering its production process, Zeke Corporation hired a new controller, Georgia Taylor. (Click the icon to view additional information.) The number of parts is now a feasible allocation base because Zeke recently installed a plantwide computer system. Zeke produces two wheel models: Standard and Deluxe. Budgeted data for the upcoming year are as follows: (Click the icon to view the additional data.) For the upcoming year, Zeke's budgeted ABC manufacturing overhead allocation rates 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.) Zeke Corporation Total Budgeted Indirect Manufacturing Costs Budgeted Quantity of Activity Cost Total Budgeted Activity Cost Allocation Base Allocation Rate Indirect Cost Materials handling Machine setups Insertion of parts Finishing Total budgeted indirect cost She developed an ABC system very similar to the one used by Zeke's chief rival. Part of the reason Taylor developed the ABC system was because Zeke'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. Activity Cost Allocation Rate Allocation Base Activity Materials handling Machine setup Number of parts Number of setups Number of parts $4.00 per part $450.00 per setup $26.00 per part $50.00 per hour Insertion of parts Finishing Finishing direct labor hours Standard Deluxe 6.0 20.0 2.4 Parts per wheel 4.0 Setups per 1,000 wheels 20.0 Finishing direct labor hours per wheel 1.1 Total direct labor hours per wheel 2.6 The company's managers expect to produce 1,000 units of each model during the year. 3.2 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. 3 parts remaining