Requirement 1. Prescott expects to produce 225,000 basic models and 225,000 professional models. Compute the predetermined overhead allocation rates using activity-based costing. How much overhead is allocated to the basic model? To the professional model? Begin by selecting the formula to calculate the predetermined overhead (OH) allocation rate. Then enter the amounts to compute the allocation rate for each activity. Abbreviation used: Qty = quantity. Enter the materials handling allocation rate to four decimal places, and the remaining allocation rates to the nearest cent) Predetermined OH Estimated overhead costs Estimated qty of the allocation baseallocation rate Materials Handling