Budgeted Co b) Electric Car Co (ECC). currently manufactures two different types of fully electronic cars in 2021. Type 8Y is a large SUV whereas Type BW will be the fastest car in the world with 10 rocket thrusters. ECC has decided to use ABC casting instead of traditional costing. The 2021 budget to manufacture these new types include manufacturing overhead of $126,920,760 which has been allocated on each product's inspection hours. The expected prime costs of two new types are as folows: Type BY Type BW Prime Costs $20,916 S43,625 ECC's controller believes the traditional costing system may be providing misleading cost information They have developed an analysis of the 2021 budgeted manufacturing-overhead costs shown in the following chart Activity Cost Driver Budgeted Activity Assembly Assembly hours 10,000 $83.480,000 Inspection Inspection hours 10,000 $27,920,000 Painting Gallons of paint 5,000 $22,850,000 Quality control Number of tests 4,000 $12.690,730 Total manufacturing-overhead cont $126.920.760 Actual data regarding the 2021 manufacturing of the Type BY and the Type BW is shown in the following table with a total MOH of $210,920,760: Type OY Type W Budsted Sales units Assembly hours Inspection hours Paint Gallons Tests 2,222 767 767 303 612 556 2,855 2,955 1477 2364 Required 1) Using the traditional method 1. Determine the company's predetermined overhead rato(s) applied IL Determine how much overhead was applied to Type SY iii. Provide the MOH true up journal entry required for this method at the end of the year 2) Using the ABC method Determine the company's predetermined overhead rate(s) applied Determine how much overhead was applied to Type 9Y Hit Provide the MOH true up journal antry required for this method at the end of the year