Question 1 of 6 0/6 III SNOW Allempl History Current Attempt in Progress Sheffield Inc. has two types of handbags: standard and custom. The controller has decided to use a plantwide overhead rate based on direct labor costs. The president has heard of activity-based costing and wants to see how the results would differ if this system were used. Two activity cost pools were developed: machining and machine setup. Presented below is information related to the company's operations. Standard Custom Direct labor costs $50,000 $100,000 Machine hours 1,500 1,200 Setup hours 90 390 Total estimated overhead costs are $294,600. Overhead cost allocated to the machining activity cost pool is $189,000, and $105,600 is allocated to the machine setup activity cost pool. (a) (a) X Your answer is incorrect. Compute the overhead rate using the traditional (plantwide) approach. (Round answer to 2 decimal places, e.g. 12.25.) Predetermined overhead rate 196 % of direct labor cost e Textbook and Media Save for Later Attempts: 1 of 3 used Submit Answer Using multiple attempts will impact your score. 10% score reduction after attempt 2 (b) The parts of this question must be completed in order. This part will be available when you complete the part above