Approximately Relevant ABC Silven Company has identified the following overhead activities, costs, and activity drivers for the coming year: Activity Activity Driver Activity Capacity Number of setups 120 Expected Cost $132,000 9,600 91,350 17,550 Number of orders Setting up equipment Ordering materials Machining Receiving 600 Machine hours 10,150 975 Receiving hours Silven produces two models of cell phones with the following expected activity demands: Model X Model Y 4,200 8,400 Units completed Number of setups 80 40 Number of orders 200 400 Machine hours 5,800 4,350 Receiving hours 325 650 Required: 1. Determine the total overhead assigned to each product using the four activity drivers. Total Overhead Assigned Model X 149,250 Model Y 101,250 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 Total Overhead Assigned 157,201 x 93,232 x Model Y 3. Using ABC as the benchmark, calculate the percentage error. Round your answers to two decimal places. Percentage Error Model X 6.40 X % Model Y 7.92 X % Silven produces two models of cell phones with the following expected activity demands: Model X Model Y 4,200 8,400 Units completed Number of setups 80 40 Number of orders 200 400 Machine hours 5,800 4,350 Receiving hours 325 650 Required: 1. Determine the total overhead assigned to each product using the four activity drivers. Model X Total Overhead Assigned 149,250 101,250 Model Y 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 157,201 x 93,232 x Model Y 3. Using ABC as the benchmark, calculate the percentage error. Round your answers to two decimal places. Percentage Error Model X 6.40 X % Model Y 7.92 X % 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