job-costing system. Total budgeted costs in each indirect cost pool and the budgeted quantity of activity driver are as follows. (Click the icon to view the cost and driver data.) (Click the icon to view the job data.) Read the Requirement 1. Compute the total overhead allocated to each job under a simple costing system, where overhead is allocated based on machine-hours. Begin by calculating the overreed rate under the simple costing system. First select the formula, then enter the applicable amounts and calcullate the rate, (Round vour answer to the nearest cant. Abbreviations used: bat, = budaated, mach, = machine, mat. = material, purch. = purchase, qty. = quantity.) More info Data table Requirements 1. Compute the total overhead allocated to each job under a simple costing system, where overhead is allocated based on machine-hours. 2. Compute the total overhead allocated to each job under an activity-based costing system using the appropriate activity drivers. 3. Explain why Steph's Custom Framing might favor the ABC job-costing system over the simple job-costing system, especially in its bidding process