1.	Calculate the cost of Job 356 using the traditional plantwide manufacturing overhead rate based on machine hours.
2.	Calculate the cost of Job 356 using activity-based costing.
3.	If you were a manager, which cost estimate would provide you more useful information? How might you use this information?

More info The company estimates that it will incur $3,315,000 in total manufacturing overhead costs in the upcoming year and will use 15,000 machine hours. Up to this point, hazardous waste-disposal fees have been absorbed into the plantwide manufacturing overhead rate and allocated to all products as part of the manufacturing overhead process. Recently, the company has been experiencing significantly increased waste-disposal fees for hazardous waste generated by certain products, and, as a result, profit margins on all products have been negatively impacted. Company management wants to implement an activity-based costing system so that managers know the cost of each product, including its hazardous waste-disposal costs. Data table More info Scofield Industries manufactures a variety of custom widgets. The company has traditionally used a plantwide manufacturing overhead rate based on machine hours to allocate manufacturing Expected usage and costs for manufacturing overhead activities for the upcoming year overhead to its products. are as follows: (Click the icon to view additional information.) (Click the icon to view the expected usage and costs.) During the year, Job 356 is started and completed. Usage data for this job are as follows: (Click the icon to view the usage for Job 356.) Read the Requirement 1. Calculate the cost of Job 356 using the traditional plantwide manufacturing overhead rate based on machine hours. Begin by calculating the predetermined manufacturing overhead rate. First identify the formula used to compute the predetermined manufacturing overhead rate, then compute the rate. (Abbreviations used: MOH= manufacturing overhead)