Question # 1: (Marks -20) + The Grand River Company uses a budgeted overhead rate for applying factory overhead to job orders on a machine hour basis...

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Question # 1: (Marks -20) +The Grand River Company uses a budgeted overhead rate for applying factory overhead to job orders ona machine hour basis for the Machining Department and on a direct labour hour basis for the FinishingDepartment. The company estimated the following for 2010:+Departments+Machining +Finishing +Factory overhead +$ 10,000,000$ 8,000,000Machine hours +200,00033,000Direct labour hours +30,000160,000Direct labour cost +$ 900,000 +$ 4,000,000 +Required: +1. Calculate the overhead rates to be used in two departments. ( Marks -2) +