EcoFabrics has budgeted overhead costs of $1,105.650. It has assigned 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). Total estimated machine hours is 234,000, and total estimated number of setups is 1,755. Overhead allocated to the cutting cost pool is $421.200 and $684,450 is allocated to the design cost pool Additional information related to product usage by these pools is as follows. Wool Cotton Machine hours 117,000 117,000 Number of setups 1.170 585 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 Design $ per setup Overhead rates for activity-based costing Cutting Design eTextbook and Media per machine hour per setup Determine the amount of overhead assigned to the wool product line and the cotton product line using activity-based costing Overhead Allocated $ eTextbook and Media Wool product line Cotton product line Calculate the overhead rate using traditional approach. (Round answer to 2 decimal places, eg. 12.25) eTextbook and Media What amount of overhead would be assigned to the wool and cotton product lines using the traditional approach, assuming direct labor hours were incurred evenly between the wool and cotton? Wool product line Overhead Allocated eTextbook and Media Cotton product line