Julio produces two types of calculator, standard and deluxe. The company is currently using a traditional costing system with machine hours as the cost driver but is considering a move to activity-based costing. In preparing for the possible switch, Julio has identified two cost pools: materials handling and setup. The collected data follow: Standard Model Deluxe Model Number of machine hours: 57,500 60,000 Number of material moves: 580 780 Number of setup:s 120 725 Total estimated overhead costs are $503,250, of which $224,400 is assigned to the material handling cost pool and $278,850 is assigned to the setup cost pool. Required : 1. Calculate the overhead assigned to each product using the traditional cost system. (Round the overhead rate to four decimal places and round your final answer to the nearest whole dollar amount.) 2. Calculate the overhead assigned to each product using ABC