Example 6: Hayward Industries manufactures dining chairs and tables. The following information is available: Hayward is considering switching from one overhead rate based on labor hours to activity-based costing. Instructions Perform the following analyses for these two components of overhead: a. Compute total machine setups and inspection costs assigned to each product, using a single overhead rate. b. Compute total machine setups and inspection costs assigned to each product, using activitybased costing. c. Comment on your findings