PA4-1 (Algo) Assigning Costs Using Traditional System, ABC System [LO 4-1, 4.3, 4.4, 4.6] Hazelnut Corporation manufactures lawn ornaments. It currently has two product IInes, the basic and the luxury. Hazelnut has a total of $165,720 In overhead. The company has identlfied the following Information about its overhead actlivty pools and the two product Ines: Required: 1. Suppose Hazelnut used a traditional costing system with machine hours as the cost drlver. Determine the amount of overhead assigned to each product line. 2 Calculate the activity rates for each actlivity pool In Hazelnut's ABC system. 3. Calculate the amount of overhead that Hazelnut will assign to the basic line if it uses an ABC system. 4. Determine the amount of overhead Hazelnut will assign to the luxury line If It uses an ABC system. 5. Compare the results for a traditional system with that of an ABC system. Which do you think Is more accurate? Complete this question by entering your answers in the tabs below. Suppose Hazelnut used a traditional costing system with machine hours as the cost driver. Determine the amount of overhead assigned to each product line. Note: Do not round intermediate calculations and round your final answers to the nearest whole dollar amount