Question 2 of 4 > 076.25 S View Policies Show Attempt History Current Attempt in Progress x Your answer is incorrect. Eric Parker has been studying his department's profitability reports for the past six months. He has just completed a managerial accounting course and is beginning to question the company's approach to allocating overhead to products based on machine hours The current department overhead budget of 5701,340 is based on 35,067 machine hours. In an initial analysis of overhead costs, Eric lus identified the following activity cost pools. Cost Pool Product assembly Machine setup and calibration Product inspection Raw materials storage Expected Cost $ 420.000 192,400 40,640 48,300 $ 701,340 Expected Activities 35,000 machine hours 3,700 Setups 1,270 batches 210,000 pounds Eric Parker is taking the next step in his exploration of activity based costing and wants to examine the overhead costs that would be allocated to two of the department's four products. He has gathered the following budget information about each product Component Driver Usage Machine hours Setups Batches Pounds of raw materials 3F5 840 38 15 10,000 Component T76 11,800 19 15 10,000 (a) Calculate the total overhead allocated to each component under the traditional method using machine hours as the overhead application base Component 3F5 Component 176 S Total Overhead allocated 2D S (b) Calculate the total overhead allocated to each component under activity based costing (Round overhead rates to 2 decimal places, g. 5.27 and round final answers to decimal places,cy. 5.275.) Component 3F5 Component T76 S 5 Total Overhead allocated e Textbook and Media Attempts: 1 of 12 used Submit An