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Single Plantwide Foctory Overhead Rate Scrumptious Snecks Inc. manufoctures three types of snack foods: tortilla chips, potato chips, and pretzels. The company has budgeted the following costs for the upcoming period: Factory overhead is allocated to the three products on the basis of processing hours. The products had the following production budget and processing hours per case: If required, round all per unit answers to the nearest cent. a. Determine the single plantwide factory overhead rate. X per processing hour b. Use the overhead rate in (a) to determine the amount of total and per-case overheed allocated to each of the three products under generally accepted accounting principles. If required, round all per unit answers to the nearest cent. a. Determine the single plantwide factory overhead rate. x per processing hour b. Use the overhead rate in (a) to determine the amount of total and per-case overhead allocated to each of the three products under generally accepted accounting principles. Feedusci Check My Work a. First calculate Budgeted production volume for each product x Processing hours. Add together to obtain total processing hours Recall that factocy overhead does not include selling and administratwe expenses. Divide the total of overhead costs by total processing hours to obtain the overhead rate b. Calculate: Overhead Rate in Req. (a) X Processing hours for each product = Overhead for each. Add all overhead amounts to obtain the totat. Divide individual overhead amounts by budgeted production volume for each product to obtain overhead per unit