Silven Company has identified the following overhead activities, costs, and activity drivers for the coming year: Activity Expected Cost Activity Driver Activity Capacity 150 Setting up equipment Ordering materials Machining $126,000 18,000 126,000 30,000 Number of setups Number of orders Machine hours 900 10,500 1,250 Receiving Receiving hours Silven produces two models of cell phones with the following expected activity demands: Model X Model Y Units completed 5,000 10,000 50 100 600 Number of setups Number of orders Machine hours Receiving hours 300 6,000 375 4,500 875 Required: 1. Determine the total overhead assigned to each product using the four activity drivers. Total Overhead Assigned Model X Model Y 2. Determine the total overhead assigned to each model using the two most expensive activities. The costs of the two relatively inexpensive activities are allocated to the two expensive activities in proportion to their costs. In your calculations round interim calculations to the nearest cent and round your final answers to the nearest dollar. Total Overhead Assigned Model X Model Y 3. Using ABC as the benchmark, calculate the percentage error. Round your answers to one decimal place. Percentage Error Model X Model Y Silven Company has identified the following overhead activities, costs, and activity drivers for the coming year: Activity Expected Cost Activity Driver Activity Capacity 150 Setting up equipment Ordering materials Machining $126,000 18,000 126,000 30,000 Number of setups Number of orders Machine hours 900 10,500 1,250 Receiving Receiving hours Silven produces two models of cell phones with the following expected activity demands: Model X Model Y Units completed 5,000 10,000 50 100 600 Number of setups Number of orders Machine hours Receiving hours 300 6,000 375 4,500 875 Required: 1. Determine the total overhead assigned to each product using the four activity drivers. Total Overhead Assigned Model X Model Y 2. Determine the total overhead assigned to each model using the two most expensive activities. The costs of the two relatively inexpensive activities are allocated to the two expensive activities in proportion to their costs. In your calculations round interim calculations to the nearest cent and round your final answers to the nearest dollar. Total Overhead Assigned Model X Model Y 3. Using ABC as the benchmark, calculate the percentage error. Round your answers to one decimal place. Percentage Error Model X Model Y