EcoFabrics has budgeted overhead costs of $1,143,450. It has allocated overhead on a plantwide basis to its two products (wool and cotton using direct labor hours which are estimated to be 544,500 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 lost driver la machine hours) and design (cost driver la number of setupa). Overhead allocated to the cutting cost poolla $435,600 and $707,850 la allocated to the design cost pool. Additional Information related to these poolais as follows. Wool Cotton Total Machine hours 121,000 121,000 242,000 Number of 1,210 605 1,815 Calculate the overhead rate using activity based costing (Round answers to 2 decimal places, eg 12.25) Overhead rates for activity-based costing Cutting $ Dealan eTextbook and Media per machine hour per setup Determine the amount of overhead allocated 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) Overhead rates using the traditional approach $ per direct labor hour eTextbook and Media What amount of overhead would be allocated 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 $ Cotton product line