Assignment (2): CH 7: ABC Leader Corporation manufactures two products: Product 095C and Product M31N. The company uses a plantwide overhead rate based on direct labor-hours. It is considering implementing an activity-based costing (ABC) system that allocates its manufacturing overhead to four cost pools. The following additional information is available for the company as a whole and for Products 095C and M31N. Activity Cost PoolActivity MeasureTotal Cost Total Activity Machine-hours Machine setups Number of setups S140,000 350setups Number of productsS 98,000 Direct labor-hoursS 340,000 10,000 DLHS S207,000 9,000MHS Machining 2products Product design Order size Activity Measure Product O95OProduct M31N Machine-hours Number of setups Number of products Direct labor-hours 3,000 6,000 190 160 1 1 4,000 6,000 Required: 1. Compute the plantwide (POHR) overhead rate. 2. Using the plantwide overhead rate, how much manufacturing overhead cost would be allocated to Product O95C? 3. Using the ABC system, compute the activity rate for each activity cost pool. 4. Using the ABC system, how much total manufacturing overhead cost would be assigned to Product 095C