Approximately Relevant ABC 40 Silven Company has identified the following overhead activities, costs, and activity drivers for the coming year: Activity Expected Cost Activity Driver Activity Capacity Setting up equipment $126,000 Number of setups 120 Ordering materials 21,600 Number of orders 900 Machining 86,800 Machine hours 10,850 Receiving 19,440 Receiving hours 1,215 Silven produces two models of cell phones with the following expected activity demands: Model X Model Y Units completed 5,900 11,800 Number of setups 80 Number of orders 300 600 Machine hours 6,200 4,650 Receiving hours 405 810 Required: 1. Determine the total overhead assigned to each product using the four activity drivers. Total Overhead Assigned Model X 147,280 Modely 106,560 2. Determine the total overhead assigned to each model using the two most expensive activities. The costs of the two relatively inexpensive activities are allocated to the two expensive activities in proportion to their costs. Round interim calculations to two decimal places and round your final answers to the nearest dollar. 2. Determine the total overhead assigned to each model using the two most expensive activities. The costs of the two relatively inexpensive activities are allocated to the two expensive activities in proportion to their costs. Round interim calculations to two decimal places and round your final answers to the nearest dollar Total Overhead Assigned Model X 238,566 x Model Y 228,074 x 3. Using ABC as the benchmark, calculate the percentage error. Round your answers to two decimal places. Percentage Error Model X 6.20 X % Model Y 11.40 X %