EcoFabrics has budgeted overhead costs of $1,134,000. It has allocated overhead on a plantwide basis to its two proc cotton) using direct labor hours which are estimated to be 540,000 for the current year. The company has decided to e activity-based costing and has created two activity cost pools and related activity cost drivers. These two cost pools am driver is machine hours) and design (cost driver is number of setups). Overhead allocated to the cutting cost pool is $43 $702,000 is allocated to the design cost pool. Additional information related to these pools is as follows. Wool Cotton Total Machine hours 120,000 120,000 240,000 Number of setups 1,200 600 1,800 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 240000 per machine hour 1800 per setup