EcoFabrics has budgeted overhead costs of $ 1.020,600. It has assigned overhead on a plantwide basis to its two products (wool and cotton) using direct labor hours which are estimated to be 486,000 for the current year. The company has decided to experiment with activity-based costing and has created two activity cost pools and related activity cost drivers. These two cost pools are cutting (cost driver is machine hours) and design (cost driver is number of setups). Total estimated machine hours is 216,000, and total estimated number of setups is 1,620 Overhead allocated to the cutting cost pool is $ 388,800 and $631,800 is allocated to the design cost pool Additional information related to product usage by these pools is as follows. Wool Cotton 108,000 108,000 Machine hours Number of setups 1,080 540 Calculate the overhead rate using activity based costing. (Round per machine hour to 2 decimal places, eg. 12.25.) Overhead rates for activity-based costing per machine hour Cutting $ per setup Design Determine the amount of overhead assigned to the wool product line and the cotton product line using activity based costing. Wool product line Cotton product line Overhead Allocated $ e Textbook and Media Calculate the overhead rate using traditional approach. (Round answer to 2 decimal places, eg. 12.25) $ per direct labor hour Overhead rates using the traditional approach