OH Allocation Company B produces two products, PI and P2, at its two departments: Machining and Assembly. The accountant tries to allocate overhead costs to the two products Required: 1. If OH is allocated based on machine hours, the OH assigned to Pl and P2 is? 2. If OH is allocated based on labor hours, the OH assigned to P1 and P2 is? 3. If OH is allocated based on machine hours in machining & labor hours in assembly, the O assigned to P1 and P2 is? Machining Assembly otal OH PI hrs P2 hrs Total hrs 800 2,000 900 1,500 $300,000 $150,000 450,000 1,200 600 # 5 8 shift