The fast & furious company produces two products: toy planes and toy race cars. they use departmental overhead rates for the two production departments: molding and finishing. molding uses machine hours to assign overhead and finishing uses direct labor hours. 50,000 planes and 250,000 race cars are produced. find the following data: molding finishing total estimated overhead $250,000 $100,000 $350,000 actual overhead $240,000 $120,000 $360,000 expected direct labor hours planes 5,000 5,000 10,000 race cars 5,000 35,000 40,000 expected machine hours planes 17,000 3,000 20,000 race cars 3,000 7,000 10,000 actual direct labor hours planes 4,500 5,300 10,000 race cars 5,500 34,500 40,000 actual machine hours planes 16,500 3,500 20,000 race cars 3,200 6,800 10,000 what are the departmental overhead rates for the molding and finishing department respectively?
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