Nalda Inc. produces a single product and uses a job costing system to assign overhead costs. Currently, the company uses a predetermined overhead rate based on direct labour hours. For 2023, the company estimated that overhead would be $180,000 and the com pa ny would used 12,000 direct labour hours. Management is considering implementing an activitybased costing [ABC]: system and subsequently gathered the following estimated information for 2023: Expected Activity Cost Cost driver Activity Setups 560,000 Number of setups 4,000.00 Receiving 580,000 Number of items received 5,000.00 Order 510,000 Number of orders 1,250.00 Packing Orders $30,000 Hours packing orders 1,200.00 Total overhead cost $180,000 In March, management was asked to bid on a proposed job. Bids are based upon full manufacturing cost plus a markup of 50%. To develop a bid, the company's accountant gathered the following data pertaining to the proposed job: Direct materials cost $1,360 Direct labour cost $2,400 Direct labour hours 120 Number of machine hours 112 Number of setups 4 Number ofitems received 5 Number of orders 4 Hours packing orders 12 Reguired: in) Using the existing costing system based on direct labour hours, compute the predetermined overhead and determine the bid price of the proposed job. [B] Compute the overhead rates using ABC and determine the bid price of the proposed job using ABC. (C) Compare the bids computed using the existing costing system and ABC and discuss the differences between the two methods shown here of assigning overhead costs to jobs