E24-16 Computing product costs in an activity-based costing system Jaber, a law firm, employs activity-based costing (ABC.) The following budgeted data for each of the activity cost pools is provided for the year 2014. Expected Use of Cost Drivers per Activity Activity Cost Pools Researching legal issues Meeting with clients Preparing legal documents Estimated Overhead $ 31,500 1,760,000 480,000 900 research hours 8,800 professional hours 30,000 pages During 2014 the firm experienced 660 research hours, prepared 25,000 document pages, and 10,000 professional hours. Requirements 1. Compute the predetermined overhead allocation rates for each cost pool. 2. Compute the total overhead allocated during 2014