Question 2 (of 3) Save & Exit | | Submit 4.00 points E4-14 Assigning Costs Using Traditional System, ABC System [LO 4-1, 4-3, 4-4, 4-5] Julio produces two types of calculator,standard and deluxe. The company is currently using a traditional costing system with machine hours as the cost driver but is considering a move to activity-based costing. In preparing for the possible switch, Julio has identified two cost pools: materials handling and setup. The collected data follow Number of machine hours Number of material moves Number of setups Standard ModelDeluxe Model 30.400 870 520 25.400 570 90 Total estimated overhead costs are $332,860, of which $158,400 is assigned to the material handling cost pool and $174,460 is assigned to the setup cost pool. Required: 1. Calculate the overhead assigned to each product using the traditional cost system. (Round the overhead rate to four decimal places.) Standard Model Deluxe Model 2. Calulate the overhead assigned to each product using ABC. Standard Model Deluxe Model