Hi,

This problem I've been working on uses the single plantwide factory overhead rate and I'm not understanding it. Can someone help me solve this?

Home X @ 3-1 Problem Set: Module Thre X MindTap - Cengage Learning X CengageNOWv2 | Online tear X Course Hero X + X C https://v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false S.G Problem Set: Module 3 eBook Single Plantwide Factory Overhead Rate ? 1. EX.04.06 Scrumptious Snacks Inc. manufactures three types of snack foods: tortilla chips, potato chips, and pretzels. The company has budgeted the following 2. TMM.04.06 costs for the upcoming period: Factory depreciation $15,256 3. EX.04.05.ALGO Indirect labor 37,808 4. EX.04.03.ALGO Factory electricity 4,311 Indirect materials 8,955 5. EX.04.07.ALGO Selling expenses 21,226 Administrative expenses 11,939 Total costs $99,495 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: Budgeted Volume Processing Hours (Cases) Per Case Tortilla chips 4,500 0.12 Potato chips 2,400 0.10 Pretzels 1,500 0.15 Total 8,400 If required, round all per-case answers to the nearest cent. a. Determine the single plantwide factory overhead rate. Progress: 4/5 items Check My Work Previous Next Type here to search 10:44 AM (?) 76'F Mostly cloudy A 9/13/2021Home X @ 3-1 Problem Set: Module Thre X MindTap - Cengage Learning X CengageNOWv2 | Online tear X Course Hero X + X C https://v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false S.G Problem Set: Module 3 7 eBook Factory overhead is allocated to the three products on the basis of processing hours. The products had the following production budget and processing ? 1. EX.04.06 hours per case: Budgeted Volume Processing Hours 2. TMM.04.06 (Cases) Per Case 3. EX.04.05.ALGO Tortilla chips 4,500 0.12 Potato chips 2,400 0.10 4. EX.04.03.ALGO Pretzels 1,500 0.15 5. EX.04.07.ALGO Total 8,400 If required, round all per-case answers to the nearest cent. a. Determine the single plantwide factory overhead rate. 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. Total Per-Case Factory Overhead Factory Overhead Tortilla chips $ Potato chips Pretzels Total OneDrive X Screenshot saved The screenshot was added to your OneDrive. Progress: 4/5 items Check My Work Type here to search 10:44 AM O ? 76'F Mostly cloudy A 9/13/2021