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Hazelnut Corp. manufactures town ornaments. It currently has two product lines, the basic and the luxury Hazelnut has a total of $160.117 in overhead The company has identified the following information about its overhead activity cost pools and the two product lines Cost Quantity/Amount Quantity/Amount Assigned Consumed by Consumed by Activity Cost Pools Cost belver to Pool Basic Luxury Materials Banding Number of moves 5 3,337 Quality control Number of Inspections $ 29,500 240 Inspections 120 Inspections Hachine intenance Number of machine hours 5 127,200 5,800 machine hours 4,000 machine hours 24 moves 47 moves Required: 1. Suppose Hazelnut used a traditional costing system with machine hours as the cost driver Determine the amount of overhead assigned to each product line (Do not round intermediate calculations and round your final answers to the nearest whole dollar amount.) Basic Model Luxury Model Overhead Assigned Overhead Assigned 2. Calculate the activity rates for each cost pool in Hazelnut's ABC system (Round your answers to the nearest whole dollor) Activity Rates Material Handling Quality Control Machine Maintenance per Move per inspection per Machine Hour 3. Calculate the amount of overhead that Hazelnut will assign to the basic line if it uses an ABC system (Round your intermediate and final answers to the nearest whole dollar) Basic Model Material Handling Quality Control Machine Maintenance Total Overhead signed 3 4. Determine the amount of overhead Hazelnut will assign to the luxury line if it uses an ABC system (Round your intermediate and final answers to the nearest whole dollar) xury Model Material Handling Quality Control Machine maintenance Total Overhead Assigned $ 5. Compare the results for a traditional system with that of an ABC wystem which do you think is more accurate Traditional System ABC System