Hazelnut Corporation manufactures lawn ornaments. It currently has two product lines, the basic and the luxury. Hazelnut has a total of $172,875 in overhead. The company has identified the following information about its overhead activity pools and the two product lines: Quantity or Cost Assigned Amount Consumed Activity Pools Cost Driver to Pool by Basic Quantity or Amount Consumed by Luxury Materials handling Number of moves $ 3, 360 20 moves 50 moves Quality control Number of inspections $ 30, 015 240 inspections 120 inspections machine Machine maintenance Number of machine hours $ 139, 500 5, 800 hours 3,500 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 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. Required 1 Required 2 Required 3 Required 4 Required 5 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 final answers to the nearest whole dollar amount. Basic Model Overhead Assigned Luxury Model Overhead Assigned Activity Rates Materials Handling per Move Quality Control per Inspection Machine Maintenance per Machine HourBasic Model Materials Handling Quality Control Machine Maintenance Total Overhead AssignedLuxury Model Materials Handling Quality Control Machine Maintenance Total Overhead AssignedCompare the results for a traditional system with that of an ABC system Which do you think is more accurate