Schell Company manufactures automobile floor mats. It currently has two product lines, the Standard and the Deluxe.Schell has a total of $$26,640$ in overhead. It currently uses a traditional cost system with overhead applied to the product on the basis of either labor hours or machine hours. Schell has compiled the following information about possible cost drivers and its two product lines:Schell Company TotalQuantity or Amount Consumed by Standard Floor Mat LineQuantity or Amount Consumed by Deluxe Floor Mat Line$970$labor hours$600$labor hours$370$labor hours$6,920$machine hours$2,910$machine hours$4,010$machine hoursRequired:Suppose Schell uses a traditional costing system with direct labor hours as the cost driver. Determine the amount of overhead assigned to each product line.Suppose Schell uses a traditional costing system with machine hours as the cost driver. Determine the amount of overhead assigned to each product line.