agraph Styles Student Number: _19037325 (SHOW YOUR WORK TO GET PART MARKS) ABC Furniture Company has been in business for 10 years. The company manufactures desk chairs and desks. The following information is available: Machine setups Inspections Labour hours Activity Volume Desk Chairs Desks 50 75 300 190 700 300 Total Activity Cost $9,000 $7,590 ABC Furniture Company is considering switching from the overhead rate based on labour hours to activity-based costing (ABC) as the company president heard that this method achieves accurate results. Questions: a) Calculate total machine setups and inspection costs assigned to each product, using a single overhead rate. IF b) Calculate total machine setups and inspection costs assigned to each product, using activity-based costing. c) Comment on your findings from answering a) and b). d) Why is it important for the company to have an accurate view of their products overhead expense, e) Explain the difference between activity cost pool and cost driver