Current Attempt in Progress Sheridan Inc. is a small company that produces yoga mats and assorted accessories. It recently transitioned to Activity-Based Costing (ABC) and is in the process of creating a budget. It has compiled the following budgeted Manufacturing Overhead (MOH) costs which are divided into three key activities: During the year, Sheridan used 4000 setup hours; 12000 machine hours; and 2800 inspection hours. If Sheridan wants to use an activity rate that is tailored to each activity, then what rate would it use for each? Setup, \$32.50/setup hour; Production, \$25.33/machine hour; and Quality Inspection, \$41.50/inspection hour Setup, \$13.00/setup hour; Production, \$16.00/machine hour; and Quality Inspection, \$14.00/inspection hour