Celia Inc. has two types of handbags: Standard and custom. The Controller has decided to use a plantwide overhead rate based on direct labor costs. The president has heard of activity-based costing and wants to see how th results would differ if this system were used Two activuty cost pools were developed: Machining and Machine set-up. Presented below is information related to the company's operations Standard Custom Direct Labor cost Machine Hours Set-up Hours 60,000 $ 1,500 $ 12,000 1,500 500 100 Total estimated overhead cost are $342,000. Overhead cost allocated to the machining activity cost pool is $222,000 and $120,000 is allocated to the machine set-up activity cost pool 1. Calculate overhead allocated to each product using the traditional (Plantwide) approach 2. Calculate overhead allocated to each product using the activity based costing approach