How do you calculate the overhead rates?

Steven Garcia has been studying his department's protability reports for the past six months. He has just completed a managerial accounting course and is beginning to question the company's approach to allocating overhead to products based on machine hours. The current department overhead budget of $1,031,140 is based on 51,557 machine hours. In an initial analysis of overhead costs, Steven has identied the following activity cost pools. Cost Pool Expected Cost Expected Activities Product assembly $ 559,000 43,000 machine hours Machine setup and calibration 348,400 5,200 setups Product inspection 66,740 1,420 batches Raw materials storage 57,000 285,000 pounds 35 1,031,140 (3) Calculate the company's traditional overhead rate based on machine hours. Overhead rate $ 20 / MH (b) Calculate the company's overhead rates using the proposed activitybased costing pools. {Round answers to 2 decimal places, 6.3. 15.25.} Product assembly $ /MH Machine setup and calibration $ /59tUP Product inspection $ /batch 35 /lb Raw materials storage