1. Cornell Metal Works produces two types of metal lamps. Cornell manufactures 24,640 basic lamps and 6,250 designer lamps. Its activity-based costing system uses two indirect-cost pools. One cost pool is for setup costs and the other for general manufacturing overhead. Cornell allocates setup costs to the two lamps based on setup labour-hours and general manufacturing overhead costs on the basis of direct manufacturing labour-hours. It provides the following budgeted cost information. 1(Click the icon to view the information.) Calculate the total budgeted costs of the basic and designer lamps using Cornell's activity-based costing system. Begin by calculating the overhead rates for each of the two indirect-cost pools: setup costs and general manufacturing overhead. First select the formula; then enter the applicable amounts and calculate the rate. Begin with the overhead rate for set up costs. (Round the budgeted rate to the nearest dollar. Abbreviations used: MOH = Manufacturing Overhead.) Budgeted setup costs 130,800 Budgeted setup hours 327 = $ Budgeted setup rate 400 per setup labour-hour Now calculate the overhead rate for general manufacturing overhead. (Abbreviations used: MOH = Manufacturing Overhead. Round your answer to six decimal places, $X.XXXXXX.) Budgeted MOH costs 168,051 / Budgeted manufacturing labour hours = Budgeted MOH rate 14,231 = $ 11.808798 per manufacturing labour-hour Now calculate the budgeted direct costs of basic and designer lamps if Cornell allocates overhead costs in each department using activity-based costing. Then complete the indirect allocation of costs for the basic and designer lamps. Lastly, in each case calculate the totals for both types of lamps combined. (Use the general manufacturing overhead rate rounded to six decimal places, $X.XXXXXX in any calculations. Round the total amounts to the nearest whole dollar and round all per unit amounts to two decimal places.) Designer lamps Basic lamps Total Per unit Total Per unit Total Direct materials $ 320,320 $ 197,120 13.00 $ 8.00 131,250 $ 21.00 $ 451,570 87,500 14.00 284,620 Direct manufacturing labour Total direct costs 517,440 21.00 218,750 35.00 736,190 Indirect costs of activities Setup of lamps 49859 1.30 116387.513000 8.00 General manufacturing overhead 147188 21.00 Total indirect costs allocated 664628 42.00 Total costs