Den 17-01 Saddle Inc. has two types of handbags: standard and custom. The controller hos dedded to use a plantwide overhead rate based on direct labor president has heard of activity-based costing and wants to see how the results would differ if this system were used. Two activity Coopools were developed: machining and machine stup. Presented below is information related to the company's operation Standard Custom Direct labor costs $50,000 $100,000 Machine hours 1,200 1,200 Setup hours 120 420 Total estimated overhead costs are $289,200. Overhead cost allocated to the machining activity cost pool is $192,000, and $97,200 is allocat machine setup activity cost pool. udy Compute the overhead rate using the traditional (plantwide) approach. (Round answer to 2 decimal places, ... 12.25.) Predetermined overhead rate % of direct labor cost Setup hours 120 420 Total estimated overhead costs are $289,200. Overhead cost allocated to the machining activity cont poolt machine setup activity cost pool. Compute the overhead rate using the traditjenal (plantwide) approach. (Round answer to 2 decimal p- Predetermined overhead rate % of direct labor cost Compute the overhead rates using the activity-based costing approach. Machining per machine hour Machine setups per setup hour Determine the difference in allocation between the two approaches. Traditional costing End Time: 05:02 PN/Remagt 80 min. OURCES Determine the difference in allocation between the two approaches. Traditional costing I Standard Custom Activity-based costing Standard dy Custom $ Open Show Work Click if you would like to Show Work for this