Steven Garcia has been studying his department's profitability reports for the past six months. He has just completed a managerial accounting course and is beginning to question the company's approach to allocating overhead to products based on machine hours. The current department overhead budget of $1,031,140 is based on 51.557 machine hours. In an initial analysis of overhead costs, Steven has identified the following activity cost pools, Cost Pool Expected Cost $ 559,000 Product assembly Machine setup and calibration Expected Activities 43,000 machine hours 5,200 Setups 348,400 Product inspection 66,740 1.420 batches 57.000 Raw materials storage 285,000 pounds $ 1,031,140 Question 2 of 6 - 12 (a) Calculate the company's traditional overhead rate based on machine hours. Overhead rate MH (b) Calculate the company's overhead rates using the proposed activity based costing pools. (Round answers to 2 decimal places, es 15.25) $ Product assembly /MH $ / setup Machine setup and calibration $ Product inspection /batch (b) Calculate the company's overhead rates using the proposed activity-based costing pools. (Round answers to 2 decimal places, eg, 15.25.) $ MH Product assembly $ / setup Machine setup and calibration $ /batch Product inspection $ VID Raw materials storage 5C Clear du