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1. Calculate the cost of Job 355 using the traditional plantwide manufacturing overhead rate based on machine hours. 2. Calculate the cost of Job 355 using activity-based costing. 3. If you were a manager, which cost estimate would provide you more useful information? How might you use this information? Data table More info Up to this point, hazardous waste disposal fees have been absorbed into the plantwide manufacturing overhead rate and allocated to all products as part of the manufacturing overhead process. Recently, the company has been experiencing significantly increased waste disposal fees for hazardous waste generated by certain products, and as a result, profit margins on all products have been negatively impacted. Company management wants to implement an activity-based costing system so that managers know the cost of each product, including its hazardous waste disposal costs. Sorrentino Industries manufactures a variely of custom products. The company has traditionally used a plantwide manufacturing overhead rate based on machine hours to alocate manutacturing overhead to its products. The company estimates that it will incur $1,120,000 in lotal manufacturing overhead costs in the upcoming year and will use 8,000 machine hours. Expected usage and costs for manufacturing overhead activities for the upcoming year are as follows: Flick the icon to view the additonal information about the hazardous waste disposal (Click the icon to view the expected usage and costs.) fees.) During the year, Job 355 is started and comploted. Usege for this job follows: (Click the icon to view the usape for Job 355.) Read the tequirements. Requirement 1. Calculate the cost of Job 355 using the traditional plantwide manulacturing overthead rale besed on machine hours. Begin by caiculating the plantwide overhead rate. First identify the formula used to compole the plantwide averhead rate, then compute the rate. (Abbroviasons used: MoH = manufacturing overheed; mlg = manulactuing) products. The company has ate based on machine hours to mpany estimates that it will incur I upcoming year and will use 8,000 Expected usage and costs for manufacturing overl year are as follows: (Click the icon to view the expected usage ano During the year, Job 355 is started and completed. hut the hazardous waste disposal (Click the icon to view the usage for Job 355.) Read the requirements. a traditional plantwide manufacturing overhead rate based on machine hours. identify the formula used to compute the plantwide overhead rate, then compute the rate. (Abbrevia Sorrentino Industries manufactures a variefy of custom products. The compary has Q. Expected usage and costs for manufacturing overhead activitios for the upcom Calculate the cost of Job 355. Requirement 2. Colculate the cost of Job 355 using actilly based costing Begin by calculating the allocation rate for each activity. Firat dotermine the formula to computo the allocation rate in an activily based costing system, then conpoute the rate for each activity. (Abbervations uned; est, \& estimated, Mrtemachine houn, Mach - Machine, Eng - Engineering) Sorrentino Industries manulactures a variety of custom products. The company has Expected usage and costs for manufacturing overhead activities for the upcoming Begin by calculating the allocation rate for each activity. First determine the formula to compute the allocation rate in an activity-based costing system, then compute the rate for each activity. (Abbreviations used: est. = estimated, MH=machine hours, Mach =Machine, Eng = Engineering) Calculate the cost of Job 355 using activity based costing Sorrentino lndustries manufactures a variety of custom products. The company has Expected usage and costs for manufacturing overhead activities for the upcoming Calculate the cost of Job 355 using activity-based costing Requirement 3. If you were a managor, which cost estmate would provide you more useful information? How might you use this information? The cost estinale based on the mould provide more useldi information because this cost entmale takes into account This information can be used to