EcoFabrics has budgeted overhead costs of $1,105,650. It has allocated overhead on a plantwide basis to its two products (wool and cotton) using direct labor hours which are estimated to be 526,500 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). Overhead allocated to the cutting cost pool is $421,200 and $684,450 is allocated to the design cost pool. Additional information related to these pools is as follows Wool Cotton Total Machine 117,000 117,000 234,000 Number of setups 1,170 5851,755 (a1) Your answer is correct Calculate the overhead rate using activity based costing. (Round answers to 2 decimal places, e.g. 12.25.) Overhead rates for activity-based costing Cutting Design Click if you would like to Show Work for this question: Open Show Work 1.8 per machine hour 390 per setup SHOW SOLUTION SHOW ANSWER LINK TO TEXT LINK TO TEXT Attempts: 1 of 5 used (a2) L] Your answer is correct Determine the amount of overhead allocated to the wool product line and the cotton product line using activity-based costing Wool product line Cotton product line Overhead Allocated 666900 438750 Click if you would like to Show Work for this question: Open Show Work SHOW SOLUTION SHOW ANSWER LINK TO TEXT LINK TO TEXT Attempts: 1 of 5 used (b1) Calculate the overhead rate using traditional approach. (Round answer to 2 decimal places, e.g. 12.25.) Overhead rates using the traditional approach per direct labor hour