Cowan Products has adopted an ABC costing system. The following manufacturing activities. indirect manufacturing costs, and cost drivers have been identified (Click the icon to view the activity costs and drivers.) The Job Cost Record for Job 524 revealed that direct materials requisitioned for the job totaled $1,020. The Job Cost Record also showed that direct labor for this job totaled 5 hours at a wage rate of $21 per hour other data collected on the resources used by Job 1624 included em Click the icon to view the other data) Read the requirements Requirement 1. Calculate the activity cost allocation rate for each of the five pools listed in the table. Mound the allocation rate to the nearest cent. Abbreviations used: DL direct labor, MH machine hour) Activity cost allocation rate Machine setup per setup Choose from any list or enter any number in the input fields and then continue to the next question 4 machine setups required 6 machine hours 2 polishing cloths 2 quality control tests run Calculate the activity cost allocation rate for each of the five pools listed in the table. 2. Calculate the total cost of Job #624 (use an ABC costing system). 3. Why would ABC provide a more accurate allocation of manufacturing overhead (MOH) than a plantwide rate? Assume that Cowan Products used a traditional costing system rather than an ABC system. Its plantwide MOH rate would have been determined using direct labor (DL) hours as the allocation base. How much cost distortion would have occurred on this job