Current Attempt in Progress Eric Parler has been studying his department's profitability reports for the past six months. He has just completed a managerial accounting course and is beginning to question the company's approach to allocating overhead to products based on machine hours. The current department overhead budget of $858,000 is based on 34,320 machine hours. In an initial analysis of overhead costs, Eric has identified the following activity cost pools. Cost Pool Product assembly Machine setup and calibration Product inspection Raw materials storage Expected Cost $ 547.500 220.000 45.500 45.000 $ 858.000 Expected Activities 36,500 machine hours 4,000 Setups 1,300 batches 225.000 pounds Eric Parker is taking the next step in his exploration of activity based costing and wants to camine the overhead costs that would be allocated to two of the department's four products. He has gathered the following budget information about each product Component 776 Driver Usage Machine hours Setups Batches Pounds of raw materials Component 3F5 900 35 20 10,000 11.500 22 15 10,000 allocated to two of the department's four products. He has gathered the following budget information about each product. Component T76 Driver Usage Machine hours Setups Batches Pounds of raw materials Component 3FS 900 35 20 10,000 11,500 22 15 10,000 (a) Calculate the total overhead allocated to each component under the traditional method using machine hours as the overhead application base. Component 3F5 Component 176 Total Overhead allocated $ (b) Calculate the total overhead allocated to each component under activity-based costing (Round overhead rotes to 2 decimal places, 28 5.27 and round final answers to decimal places, es 5,275.) Component 3F5 Component 176 Total Overhead allocated $ e Textbook and Media