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Exercise 17-1 (Algo) Using plantwide overhead rate to allocate overhead LO P1 Shakti Company budgets overhead cost of $71,000 for the year. The company reports the following for its standard and deluxe models. Cost per Unit Direct materials Direct labor Standard $ 12 18 Deluxe $ 23 27 1. Compute a single plantwide overhead rate assuming the company allocates overhead cost based on 7.100 direct labor hours. 2. The standard model uses 3 direct labor hours per unit and the deluxe model uses 4 direct labor hours per unit. Compute overhead cost per unit for each model. 3. Compute the total product cost per unit for both models. Required 2 Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required Required 3 Compute a single plantwide overhead rate assuming the company allocates overhead cost based on 7,100 direct labor hours. Select Numerator 10 per direct labor hour Select Denominator Total actual overhead cost $ Total actual direct labor hours Exercise 17-1 (Algo) Using plantwide overhead rate to allocate overhead LO P1 Shakti Company budgets overhead cost of $71,000 for the year. The company reports the following for its standard and deluxe models. Cost per Unit Direct materials Direct labor Standard $ 12 18 1. Compute a single plantwide overhead rate assuming the company allocates overhead cost based on 7,100 direct labor hours. 2. The standard model uses 3 direct labor hours per unit and the deluxe model uses 4 direct labor hours per unit. Compute overhead cost per unit for each model. 3. Compute the total product cost per unit for both models. Model Deluxe $ 23 27 Complete this question by entering your answers in the tabs below. Standard Deluxe Required 1 Required 2 Required 3 The standard model uses 3 direct labor hours per unit and the deluxe model uses 4 direct labor hours per unit. Compute overhead cost per unit for each model. Answer is complete but not entirely correct. 12 12 Plantwide Overhead Rate per direct labor hour per direct labor hour 36 48 per unit per unit Exercise 17-1 (Algo) Using plantwide overhead rate to allocate overhead LO P1 Shakti Company budgets overhead cost of $71,000 for the year. The company reports the following for its standard and deluxe models. Cost per Unit Direct materials Direct labor Standard $ 12 18 1. Compute a single plantwide overhead rate assuming the company allocates overhead cost based on 7,100 direct labor hours. 2. The standard model uses 3 direct labor hours per unit and the deluxe model uses 4 direct labor hours per unit. Compute overhe cost per unit for each model. 3. Compute the total product cost per unit for both models. Cost per Unit Standard Deluxe Complete this question by entering your answers in the tabs below. Deluxe $ 23 27 Required 1 Required 2 Required 3 Compute the total product cost per unit for both models. Direct Materials $ Answer is complete but not entirely correct. 12 23 Direct Labor $ $ Overheadi 18 $ 27 $