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 Number of setups 120 Ordering materials $144,000 20,700 126,000 Number of orders 900 Machining Machine hours 10,500 Receiving 27,360 Receiving hours 1,140 Silven produces two models of cell phones with the following expected activity demands: Model X Model Y 5,900 11,800 Units completed Number of setups Number of orders 80 40 300 600 Machine hours 6,000 4,500 Receiving hours 380 760 Required: 1. Determine the total overhead assigned to each product using the four activity drivers. Total Overhead Assigned Model X $ 184,020 Model Y $ 134,040 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 197,904.00 X Model X $ Model Y 3. Using ABC as the benchmark, calculate the percentage error. Round your answers to two decimal places. Percentage Error Model X -10.36X % Model Y % 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