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W'ildhorse Inc. manufactures two products: car wheels and truck wheels. To determine the amount of overhead to assign to each product line, the controller, Kevin Hall, has developed the fol lowing information: Estimated wheels produced 49,000 12,000 Direct labour hours per wheel 2 4 Total estimated overhead costs for the two product lines are 113730.000. V Your answer is correct Calculate the overhead cost assigned to the car wheels and truck wheels, assuming that direct labou r hours are used to allocate overhead costs. Ca r wheels $ 490000 Truck wheels 35 240000 Total overhead $ )'30000 [b] V Your answer is oorrect. Kevin is not satised with the traditional method of allocating overhead because he believes that most of the overhead costs relate to the truck wheel product line because of i3 complexity. He therefore develops the followingthree activity cost pools and related cost drivers to better understand these costs: Setting up machines $424,000 300 set-ups Assembling 222,000 3?,000 labour hours Inspection 84,000 163 inspections Calculate the activity-based overhead rates for these three cost pools; Setting up machines $ Assembling $ |:| perlabour hour Inspection $ per setup per inspection ({2} Calculate the cost that is assigned to the car and truck product lines using an activity based costing system, given the following information: Use of Cost Drive rs per Product Number ofset-ups 200 600 Direct labour hours 21,500 15,500I Number of inspections 55 113 Overhead assigned 5 I $