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3. All Wood Corporation manufactures dining chairs and tables. The following information is available: Dining Chairs Tables Total Cost Machine setups 200 600 $36,000 Inspections

3. All Wood Corporation manufactures dining chairs and tables. The following information is available: Dining Chairs Tables Total Cost Machine setups 200 600 $36,000 Inspections 250 470 $54,000 Labor hours 2.600 2,400 All Wood is considering switching from one overhead rate based on labor hours to activity-based costing Instructions a. Calculate the total cost allocated to each product using a traditional approach. b. Calculate the total cost allocated to each product using ABC system. c. Comment on your findings

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