Comparing ABC and Plantwide Overhead Cost Assignments Wellington Chocolote Company uses activity-based costing (ABC). The controller identified two activities and their budgeted costs: Setting up equipment is based on setup hours, and other overhead is tased on oven hours. Wellington produces two products, Fudge and Cookies: Information on each product is as follows: Round your answers to the nearest whole dollac, unless otherwise directed. 1. Calculate the activity rate for (a) setting up equipment and (b) other overhead. a. Setting up Givipment per setup hout b. Other overhead per oven hour 2. How much total overhead is assigned to fudge using ABC? 3. What is the unit overtsead assigned to Fudge using ABC? Round to the nearest cent. per unit. 4. Now, ignoring the ABC rewits, calculate the plantwide corernesd rate, based on oven hours, Rovind to the nearest cent. per oven hour 5. How much total overhead is assigned to fudge using the plantwide overhead rate? 6a. The difference in the total overtiead assigned to Fudge is difterent under the ABC system and non-MBC system because 6b. Wrat is the drference in total overhead assigned to fudge under the two mechods