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Required: 1. Calculate the consumption ratios for the four drivers. Round your answers to two decimal places. Scented Cards Regular Cards Inspection hours Setup hours Machine hours E Number of moves 2. Which of the following statements indicate there is product diversity? Explain the significance of product diversity for decision-making if the company chooses to use machine hours to assign all overhead. If machine hours are used as the only driver, cards would receive 25% of the overhead, and cards would receive 75% of the overhead. Yet, the cards consume well over 58% of the non-machine related overhead. Thus, the Scented cards are , and the Regular cards are . This inaccuracy can adversely affect many decisions, including pricing, keep or drop, and cost-volume-profit. 3. Calculate the activity rates that would be used to assign costs to each product. Round your answers to the nearest cent. Rates: Inspecting products per inspection hour Setting up equipment per setup hour Machining per machine hour Moving materials per move 4. Suppose that the budget for inspection is $59,000 for the coming year and that the activity rate for inspecting products is $25 per inspection hour. How many hours of inspection are expected for the coming year? If required, round your answer to nearest whole number of hours. inspection hours