Single plantwide factory overhead rate Scrumpbous Snacks inci manufactures three types of srack foods: tortilla chips, potato chags, and pretzels. The cormpany has budgeted the following costs for upcaening period: Factory overhead is allocated to the three products on the basis of processtng hours. The products had the following productian budget and processing hours pe If required, round all per case answers to the nearest cent. a. Determine the single plantwide factory overhead rate. X per processing hour: FChed My wis a. first calculate: Eudgeted prodaction volume for each product x Processing hours. Add together to ohtaie total proceissing hours. Hecall that factory overbead does not include seiling and admenastrative expenses. Divide the total of overhead cocts by rotal proossing houri bo obtan the coverhead tate b. Calculate: Overhead Rate in Req. (a) * Processing hours for each product - Overhead for cach. Add all overhead armounts to obtain the rotal. Divide individual averhead amounts by budgeted groduction volume for each product to obtain overhead per unit