10 Exercise 17-3 (Algo) Computing plantwide overhead rate LO P1 Dade Metals manufactures patio furniture. The company budgets overhead cost of $300,000 for the year. It also budgets 12,000 machine hours and 4,000 direct labor hours. 1. Compute the plantwide overhead rate, assuming the company allocates overhead based on (a) machine hours and (b) direct la hours. 2a. Job 121 uses 160 machine hours and 100 direct labor hours. Allocate overhead to Job 121 assuming overhead is allocated bas machine hours. 2b. Job 121 uses 160 machine hours and 100 direct labor hours. Allocate overhead to Job 121 assuming overhead is allocated bas direct labor hours. Complete this question by entering your answers in the tabs below. Compute the plantwide overhead rate, assuming the company allocates overhead based on (a) machine hours and (b) direct labor hours. Job 121 uses 160 machine hours and 100 direct labor hours. Allocate overhead to Job 121 assuming overhead is allocated based on machine hours. ob 121 uses 160 machine hours and 100 direct labor hours. Allocate overhead to Job 121 assuming overhead is allocated pased on direct labor hours