Scannell Industries manufactures a variety of custom products. The company has traditionally used a plantwide manufacturing overhead rate based on machine hours to allocate manufacturing overhead to its products The company estimates that it will incur $1,650.000 in total manufacturing overhead costs in the upcoming year and will use 15.000 machine hours. Click the icon to view the additional information about the hazardous waste disposal fees) Requirement 1. Calculate the cost of Job 355 using the traditional plantwide manufacturing overhead rate bas Begin by calculating the plantwide overhead rate First identify the formula used to compute the plantwide over mfg. = manufacturing) More info Up to this point hazardous waste disposal fees have been absorbed into the plantwide manufacturing overhead rate and allocated to all products as part of the manufacturing overhead process. Recently, the company has been experiencing significantly increased waste disposal fees for hazardous waste generated by certain products, and as a result, profit margins on all products have been negativehy impacted. Company management wants to implement an activity-based costing system so that managers know the cost of each product. including its hazardous waste disposal costs. Data table Data table 270 pounds of direct materials at $65 per pound 20 direct labor hours used at $30 per labor hour 130 machine hours used 7 change orders 70 pounds of hazardous waste generated equirement 1. Calculate the cost of Job 355 using the traditonal plantwide manufacturing overhead rate based on machine hours ifg = manulacturing) Requirements 1. Calculate the cost of Job 355 using the traditional plantwide manufacturing overhead rate based on machine hours. 2. Calculate the cost of Job 355 using acthity based costing 3. If you were a manager, which cost estimate would provide you more usefal information? How might you use this information