F41 Learn mors B C D E G H Icy Cool manufacturers two types of products, Refrigerators and Freezers. In the past year, Icy Cool manufactured 2 4,000 Refrigerators in 2,000 Freezers. Currently, Icy Cool uses a traditional costing system with machine hours as the allocation base. In anticipation of developing an activity-based costing system, Icy Cool has identified the following overhead cost pools and activities associated with production: 12345678 Activity Costs 196,000.00 480,000.00 160,000.00 836,000.00 Activities Machine Set-Ups S Extruding S 9 Quality Control $ 10 Total S 11 12 3 Acitivites Cost Drivers 4 Machine Set-Ups 5 Extruding Number of Set-Ups Machine Hours 5 Quality Control Number of Inspections Refrigerators Freezers 300 484 + 60,000 20,000 5,000 3,000 "There are 3 parts to this question below. 1.Using the current traditional costing method that assigns overhead costs based on machine hours, calculate the total overhead cost allocated to each type of product for the current year. (3 Marks) 31 32 33 2. Under activity-based costing (ABC): Determine the activity rate for each of the three activities. (3 Marks) 34 35 36 37 38 39 40 41 42 43 + 44 3. Using activity-based costing (ABC), determine the total activity costs allocated to each product line.(3 Marks) 45 46 47 48 49 50 51 52