Requirement 1. Calculate the cost of Job 356 using the traditional plantwide manufacturing overhead rate based on machine hours. Data table Requirement 2. Calculate the cost of Job 356 using activity-based costing. Begin by calculating the allocation rate for each activity. First determine the formula to compute the allocation rate in an activity-based costing system, then compute the rate for each activity. (Abbrevia Calrulate the r.ost of .Inh 3.56 usina ar.tivitv-hased r.nstina More info Requirements 1. Calculate the cost of Job 356 using the traditional plantwide manufacturing overhead rate based on machine hours. 2. Calculate the cost of Job 356 using activity-based costing. 3. If you were a manager, which cost estimate would provide you more useful information? How might you use this information