PROBLEM 3 Frameworks Artisans creates hand-painted picture frames. The frames are cast from resin in an automated process. Once the casting is done, talented artisans hand-paint one of fifteen designs on each frame. In the final assembly process, a worker inserts the glass pane and attaches the backing to the frame. Frameworks' budget for the current year are as follows BUILDING BLOCKS+JOB COSTING Direct Labor Hours Machine Hours Manufacturing Overhead Costs Department Casting Painting Assembly Total 0 hours 60,000 hours 12,000 hours 72,000 hours 28,000 hours 0 hours 800 hours 28,800 hours 252,000 $ 276,000 $ 48,000 $ 576,000 REQUIRED 1. Frameworks uses a single predetermined overhead rate based on direct labor hours. Calculate the rate for the current year 2. Frameworks produces a seasonal frame for the holidays that requires 0.4 pound of resin, 1 machine hour of casting time, 0.5 direct labor hour of painting time and 0.1 direct labor hour to assemble. How much manufacturing overhead should be assigned to the holiday frame? 3. Frameworks pays $0.75 per pound of resin and pays its workers an average of $15 an hour. What is the total manufacturing cost of the holiday frame