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Harbor Wheel Company manufactures two tractor wheels: the Uitimate which sells for $1,600 and the Standard, which sells for $1,300. The company currently uses traditional costing and assigns overhead on the basis of direct labor hours (DL.H). Total estimated overhead was $7,600,000 and estimated total direct labor hours were 400,000 . Management is considering using activity-based costing to compare overhead allocations before making a final decision? Current Traditional Costing: Activity-Based Costing: INSTRUCTIONS Using the information above, answer the questions in the text box below. Show your work. INSTRUCTIONS Using the information above, answer the questions in the text box below. Show your 1) Using traditional costing, what is the amount of manufacturing overhead applied to one Uitimate wheel and to one Standard wheel? ( 2pts) 2) Using traditional costing, what is the total manufacturing cost of a single Ultimate wheel? (2 pts) 3) Calculate the ABC Overhead rates for each cost pool: (2 pts) 4) Using Activity-based Costing, what is the amount of manufacturing overhead assigned to a single Uitimate Wheel? (2 pts) 5) Using Activity-based costing, what is the total manufacturing cost of a single Standard wheel? (2 pts)