Hazelnut Corp. manufactures lawn ornaments. It currently has two product lines, the basic and the luxury. Hazelnut has a total of $173,260 in overhead. The company has identified the following information about its overhead activity cost pools and the two product lines: Activity Cost Pools Materials handling Quality control Machine maintenance Cost Driver Number of moves Number of inspections Number of machine hours Cost Assigned to Pool $ 3,080 $ 31,080 $ 139,100 Quantity/Amount Consumed by Basic 28 moves 230 inspections 4.200 machine hours Quantity/Amount Consumed by Luxury 42 moves 140 inspections 6,500 machine hours Required: 1. Suppose Hazelnut used a traditional costing system with machine hours as the cost driver. Determine the amount of overhead assigned to cach product line. (Do not round intermediate calculations and round your final answers to the nearest whole dollar amount.) Begic Model Overhead Assigned Overhead Assigned Luxury Model 2. Calculate the activity rates for each cost pool in Hazelnut's ABC system. Materials Handling Quality Control Machine Maintenance Activity Rates per Move per Inspection per Machine Hour 3. Calculate the amount of overhead that Hazelnut will assign to the basic line if it uses an ABC system. Basic Model Materials Handling Quality Control Machine Maintenance Total Overhead Assigned $ Hazelnut Corp. manufactures lawn omaments. It currently has two product lines the basic and the luxury. Hazelnut has a total of 5173260 in overhead. The company has identified the following information about its overhead activity cost pools and the two product lines QuantityAmount Consumed Quantity (Amount Consumed by Activity Cost Pools Materials handling Quality control Machine maintenance Cost Driver Number of moves Number of inspections Number of machine hours Cost Assigned to Pool 5 3.080 $ 31000 5 139.100 28 moves 230 Inspections 4 200 machine hours Lubury 42 moves 140 Inspections 6,500 machine hours Required: 1. Suppose Hazelnut used a traditional costing system with machine hours as the cost driver. Determine the amount of overhead assigned to cach product line. (Do not round intermediate Basic Model Overhead Assigned Overhead Assigned Luxury Model 2. Calculate the activity rates for each cost pool in Hazelnut's ABC system. Activity Rates Material Handling Quality Control Machine Maintenance per Move per Inspection per Machine 3. Calculate the amount of overhead that Hazelnut will assign to the task in it uses an ASC system Basic Model Materials Handling Quality Control Machine Maintenance Total Overhead Assigned 4. Determine the amount of overhead Hazelnut will assign to the luxury line if it uses an ABC system. Luxury Model Materials Handling Quality Control Machine maintenance Total Overhead Assigned 5. Compare the results for a traditional system with that of an ABC system. Which do you think is more accurate? Traditional System ABC System