QS C-8 (Algo) Activity-based costing and overhead cost allocation LO P2 Mia Company uses activity-based costing and reports the following. The company budgets 2,400 machine hours and 6,400 direct labor hours for the year. (a) Compute an overhead activity rate for each activity using activity-based costing. (b) Allocate overhead costs to a product that used 22 machine hours and 17 direct labor hours. Complete this question by entering your answers in the tabs below. Compute an overhead activity rate for each activity using activity-based costing. Allocate overhead costs to a product that used 22 machine hours and 17 direct labor hours