Single Plantwide Factory Overhead Rate: Spotted Cow Dairy Company manufactures three products-whole milk, skim milk, and cream-in two production departments, Blending and Packing. The factory overhead for Spotted Cow Dairy is $288,000. The three products consume both machine hours and direct labor hours in the two production departments as follows: Direct Labor Hours Machine Hours Blending Department Whole milk Skim milk Cream 250 770 270 700 220 270 740 1,740 Packing Department Whole milk 350 4801 Skim milk 550 590 Cream 160 190 1,060 1,800 1,260 3,000 Total Required: 1. Determine the single plantwide factory overhead rate, using each of the following allocation bases: (a) direct labor hours and (b) machine hours. If required, round all amounts to the nearest dollar. a. Direct labor overhead rate 160 per direct labor hour b. Machine hour overhead rate 96 per machine hour 2. Determine the product factory overhead costs, using (a) the direct labor hour plantwide factory overhead rate and (b) the machine hour plantwide factory overhead rate. Required: 1. Determine the single plantwide factory overhead rate, using each of the following allocation bases: (a) direct labor hours and (b) r all amounts to the nearest dollar. a. Direct labor overhead rate b. Machine hour overhead rate 160 per direct labor hour 96 per machine hour 2. Determine the product factory overhead costs, using (a) the direct labor hour plantwide factory overhead rate and (b) the machine rate. Direct labor hours Machine hours Whole Milk Skim Milk Cream x $ 120,000 V 123,840 44,160 Correct