Mia Company uses activity-based costing and reports the following. The company budgets 3,400 machine hours and 7,400 direct labor hours for the year. Activity (Cost driver) Cutting (machine hours) Assembly (direct labor hours) Total Budgeted Cost $ 23,800 74,000 $ 97,800 (a) Compute an overhead activity rate for each activity using activity-based costing. (b) Allocate overhead costs to a product that used 27 machine hours and 22 direct labor hours. Complete this question by entering your answers in the tabs below. Required A Required B Compute an overhead activity rate for each activity using activity-based costing. Cutting Assembly Activity Budgeted Cost Budgeted Activity Usage Required A Required B > Activity Rate