Single Plantwide Factory Overhead Rate Scrumptious Snacks Inc. manufactures three types of snack foods: tortilla chips, potato chips, and pretzels. The company has budgeted the following costs for the upcoming period: Factory depreciation $16,886 Indirect labor 41,847 Factory electriCIty 4,7?2 Indirect materials 9,911 Selling expenses 23,493 Administrative expenses 13,215 Total costs $110,124 Factory overhead is allocated to the three products on the baSIS of processmg hours. The products had the following production budget ahd processing hours per case: > Budgeted Volume Processing Hours (Cases) Per Case Tortilla chips 3,300 0.15 Potato chips 3,300 0.12 Pretzels 4,200 0.10 Total 10,800 If required, round all per-case answers to the nearest cent. a. Determine the single plantwide factory overhead rate. $E] X per processing hour b. Use the overhead rate in (a) to determine the amount of total and pericase overhead allocated to each of the three products under generally accepted accounting principles. Total Per-*Case Factory Overhead Factory Overhead Tortilla chips 5:] X 5:] X Potato chips :l X [:1 X Pretzels :l X I:] X Total $l:l X Feedback ' Check My Work a First calculate. Budgeted production volume for each product x ProcesSing hours. Add together to obtain total processmg hours Recall that factory overhead does not Include selling and administrative expenses. DIVIdE: the total of overhead costs by total processmg hours to obtain the overhead rate. I: Calculate Overhead Rate in Req (a) x Processing hoursfor each product = Overhead for each. Add all overhead amounts to obtain the total. Divide individual overhead amounts by budgeted production volume for each product to obtain overhead per unit