A company manufactures two products, bikes and scooter. Their total estimated overhead cost for the year is $952,000 and expected labor hours are 56,000 hours; 30,000 for bikes and 26,000 for scooters. The company is considering using ABC for applying overhead to their products, instead of a single overhead rate. They have broken down their overhead costs into the following cost pools and cost drivers. Answer the following questions based on the data above: 1. Compute the single overhead rate. (4 pts) 2. How much overhead is applied to bikes using the single overhead rate? (3 pts) 3. How much overhead is applied to scooters using the single overhead rate? (3 pts) 4. Compute the overhead rates for the two cost pools using ABC. (5 pts) 5. How much overheads is applied bikes using ABC rates? (5 pts) 6. How much overhead is applied to scooters using ABC rates? (5 pts)