Approximately Relevant ABC 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 $132,000 Number of setups 120 Ordering materials 14,400 Number of orders 600 Machining Receiving 109,200 30,960 Machine hours 9,100 Receiving hours 1,290 Silven produces two models of cell phones with the following expected activity demands: Model X Model Y Units completed 5,200 10,400 Number of setups 80 40 Number of orders 200 400 Machine hours 5,200 3,900 Receiving hours 430 860 Required: 1. Determine the total overhead assigned to each product using the four activity drivers. Total Overhead Assigned Model X Model Y x x Model X Model Y x 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. Model X Model Y Total Overhead Assigned 3. Using ABC as the benchmark, calculate the percentage error. Round your answers to two decimal places. Model X Model Y Percentage Error % % Feedback Check My Work 1. Activity Rate Expected cost+ activity capacity. Overhead Cost Activity Ratex Expected Activity demand 2. New Cost Pools Expected Cost +[(Expected Cost + Total two most expensive) x two least expensive]. New activity rates Above calculation + Activity Capacity. This answer is used to calculate the Total OH assigned to each Model. 3. Percentage error (Total approx. ABC cost -Activity cost assignment) + Activity cost assignment. Discuss desirability.