Goodson makes handheld calculators in two modes - basic and prolessional. Goodson estmated $721,000 of manufacturing overhead and 515,000 machine hours for the year. The basic model actualty consumed 230,000 machine hours, and the professional model consumed 285,000 machine hours. The predetermined overhead alocation rate using machine hours as the allocation basse is $1,40 per machine hour, with the allocated overhead costs split between the basic model and the professional model by $322,000 and $399,000, respectively. (Click the icon to view the data using multiple department allocation rates.) (Cick the icon to view additional data.) Road the requirements Requirement 1. Goodson expects to prodvce 220,000 basic modeis and 220,000 professional modela. Compute the predetermined overtead allocation rates using activity-based costing How much orethead is allocaled to the basic moder? To the prolessional mode? Round the materias handling allocasion rate to four decimal places and the remaining allocasion rates to the nearest cent. quartiny. Enter the materals handing aliocation rate to four decimal places, and the remaining allocation rales to the nearest cent) Data table \begin{tabular}{|c|c|c|c|} \hline & & Basic Model & Professional Model \\ \hline Manufacturing overhead-Assembly & $ & 430,300 & 219,700 \\ \hline Manufacturing overhead-Packaging & & 4,500 & 66,500 \\ \hline Total manufacturing overhead cost & $ & 434,800 & 286,200 \\ \hline \end{tabular} More info Goodson wants to further refine its costing system by allocating overhead using activity-based costing. The estimated $721,000 of manufacturing overhead has been divided into three primary activities: Materials Handling, Machine Setup, and Insertion of Parts. The following data have been compiled: Requirements 1. Goodson expects to produce 220,000 basic models and 220,000 professional models. Compute the predetermined overhead allocation rates using activity-based costing. How much overhead is allocated to the basic model? To the professional model? Round the materials handling allocation rate to four decimal places and the remaining allocation rates to the nearest cent. 2. Compare the activity-based costing results from Requirement 1 with the company's results using a single plantwide rate and using multiple department rates by summarizing the total and per unit overhead allocated to each model under each of the three different allocation methods. Round per unit amounts to the nearest cent. What conclusions can you draw