Summit Manulacturing Company manufactures two products 24,000 units of Product #1 and 10,000 units of Product th2. The company uses a plantwide overhead rate based on direct labour-hours. It is considering implementing an activity-based costing (ABC) system that allocales all of its manufacturing overhead to four cost pools. The following additional information is available for the company as a whole and for Products t1 and H2. 1. What is the company's plantwide-overhead rate? 2. Using the plantwide overhead rate, how much manufacturing overhead cost is allocated to Product 1 ? How much is allocated to Product 2 ? 3. a. What is the activity rate for the Machining activity cost pool? b. What is the activity rate for the Machine Setups activity cost pool? c. What is the activity rate for the Product Design activity cost pool? d. What is the activity rate for the General Factory activity cost pool? 4. a. Using the ABC system, how much total manufacturing overhead cost would be assigned to Product 1 ? b. Using the ABC system, how much total manufacturing overhead cost would be assigned to Product 2