Sheridan Company uses three activity pools to apply overhead to its products. Each activity has a cost driver used to assign the overhead costs to the product. The activities and related overhead costs are as follows: product design $44,000; machining $328,950; and material handling $109,980. The cost drivers and estimated use are as follows. (a) Calculate the predetermined overhead rate for each activity. (Round overhead rate for machining activity to 2 decimal ploces, es. 15.25. Calculate the predetermined overhead rate for each activity. (Round overheod rate for mochining activity to 2 decimal ploces, es. 15.25