7 1 point Assigning overhead costs to activity cost pools is the first step in the Activity-based costing method. O True False 8 00 1 point Assigning costs to cost objects is the second stage allocation". O True O False 17 15 points USE THE FOLLOWING INFORMATION FOR QUESTIONS 17 AND 18 K&C is a diversified manufacturer of industrial goods. The company's activity-based costing system contains the following three activity cost pools and activity rates Activity Cost Pool Activity Rates Supporting direct labors 10 per direct labor hour Machine processing $2 per machine-hour Machine setups $ 50 per setup Activity data have been supplied for the following two products: Total Expected Activity 25 M67 Number of units produced per year 200 2,000 Direct labor hours 925 60 Machine-hours 2400 50 Machine setups 15 2 How much total overhead cost would be assigned to K25 using the activity-based costing system? Type your answer 18 15 points How much total overhead cost would be assigned to M67 using the activity-based costing system? Type your