Hazeinut Corporation manufactures lawn ornaments, It currently has two product lines, the basic and the luxury. Hazeinut has a total of $140,476 in overhead. The company has identified the following information about its overhead activity pools and the two product lines: Required: 1. Suppose Hazelnut used a traditional costing system with machine hours as the cost driver. Determine the amount of overhead assigned to each product line. 2. Calculate the activity rates for each activity pool in Hazelnut's ABC system. 3. Calculate the amount of overhead that Hazelnut will assign to the basic line if it uses an ABC system. 4. Determine the amount of overhead Hazelnut will assign to the luxury line if it uses an ABC system. 5. Compare the results for a traditional system with that of an ABC system. Which do you think is more accurate? Complete this question by entering your answers in the tabs below. Suppose Hazelnut used a traditional costing system with machine hours as the cost driver. Determine the amount of overhead assigned to each product line. Note: Do not round intermediate calculations and round your finat answers to the nearest whole dollar amount. hes, the basic and the luxury. Hazelnut ols and the two product lines: ost driver. Determine the amount of ses an ABC system. s an ABC system. o you think is more accurate? ver. Determine the amount of overhead est whole dollar amount