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Mia Company uses activity-based costing and reports the following. The company budgets 4,800 machine hours and 8,800 direct labor hours for the year. (a) Compute an overhead activity rate for each activity using activity-based costing. (b) Allocate overhead costs to a product that used 34 machine hours and 29 direct labor hours. Complete this question by entering your answers in the tabs below. Compute an overhead activity rate for each activity using activity-based costing. Allocate overhead costs to a product that used 34 machine hours and 29 direct labor hours