QUESTION 7 Biomed Constructions Ltd manufactures two types of equipment, namely Hensley Tooth and Custom Cast Tooth. The company used an activity. based costing (ABC) system to allocate overhead costs to each type of the equipment. Activities cause overhead costs for these products include material handling, machine setting and quality inspecting. The budgeted overhead costs for the overhead activities are Material handling: $100,000 Machine setting: $160,000 Quality inspecting: $10,000 The relevant cost driver information for Hensley Tooth and Custom Cast Tooth during 2019 is given below. Activities Cost Drivers Cost Drivers Hensley Tooth Custom Cast Tooth Material Handling Number of requisitions 4,000 6,000 Machine settings Number of setups 450 350 Quality Inspecting Number of inspections 80 120 Required: Determine total overhead cost allocated to Hensley Tooth and Custom Cast Tooth for 2019. Show all workings