Jason Allen has been studying his department's profitability 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 $1.110,340 is based on 55,517 machine hours. In an initial analysis of overhead costs, Jason has identified the following activity cost pools. Expected Cost $546,000 Expected Activities 45,500 machine hours Cost Pool Product assembly Machine setup and calibration Product inspection Raw materials storage 410,400 5,700 Setups 76,440 1.470 batches 77.500 310,000 pounds $ 1,110,340 Jason Allen is taking the next step in his exploration of activity-based costing and wants to examine the overhead costs that would be allocated to two of the department's four products. He has gathered the following budget information about each product Component 3F5 Component 176 1.240 9.800 Driver Usage Machine bours Setups Batches 44 18 15 15 Pounds of raw materials 10.000 10,000 (a) Calculate the total overhead allocated to each component under the traditional method using machine hours as the overhead application base Component 3F5 Component 176 Total Overhead allocated $ 5