EcoFabrics has budgeted overhead costs of $1,115,100. It has allocated overhead on a plantwide beals to its two products (wool and cotton) using direct labor hours which are estimated to be 531,000 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 tivo cost pools are cutting cost driver la machine hours) and design (cost driver la number of setupa). Overhead allocated to the cutting cost pool is $424,800 and $690,300l allocated to the design cost pool. Additional Information related to these poolsas follows Wool Cotton Total Machine hours 118,000 118.000 236,000 Number of 1.180 590 1770 (21) Your anar la correct Calculate the overhead rate using activity based costing (Round answers to 2 decimal places, eg. 12.25.) Overhead rates for activity-based costing Cutting S Design $ (a2) *Textbook and Media Your Answer Correct Answer Your answer is correct 12 per machine hour 390 persatup Attempts: 1 of 2 used 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 $ 672600 442800 [b1] eTextbook and Media Solution 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 Attempts: 2 of 2 used