Eric Pater has been storing his department's profitability reports for the past six months. He has just completed a managerial accounting course and is beginning to question the company's proach to allocating overhead to products based on machine hours The current department overhead budget of $1.138 500 is based on 4.340 machine hours to an initialyshot overhead costs, Eric has identified the following activity cost poolt Cost Pool Expected Cost Expected Activities Product assembly 5 60.000 40.000 machine hours Machine setup and calibration 320.000 5000 Setup 87.500 1.500 batches Product inspection Raw materials storage 66.000 300.000 pounds 5 1.133.500 + a) Calculate the company traditional overhead rate based on machine hours $ / Overhead race chi calculate the company overhadrates using the proposed activity bowed tonico (Round answers to 2 decimal places, es 15.250 5 MH Product assembly 5 sto Machine setup and calibration Product inspection /batch Raw materials storage ib