Swifty, Inc. produces two types of gas grills: a family model and a deluxe model. Swifty's controller has decided to use a plantwide overhead rate based on direct labor costs. The president of the company recently heard of activity-based costing and wants to see how the results would differ if this system were used. Two activity cost pools were developed: machining and machine setup. Presented below is information related to the company's operations: Direct labor costs Machine hours Setup hours Family Model Deluxe Model $ 71,400 $ 142,800 2.000 2,000 200 800 Total estimated overhead costs are $ 428,400. Overhead cost allocated to the machining activity cost poolis $ 257,040 and $ 171,360 is allocated to the machine setup activity cost pool. Your answer is correct Compute the overhead rate using the traditional (plantwide) approach. (Round answer to 2 decimal places, e.g. 15.25.) Overhead rate $ 200 e Textbook and Media Attempts: 1 of 3 used (b) Your answer is correct Compute the overhead rates using the activity-based costing approach. (Round answers to 2 decimal places, es 15.25) Overhead Rate Machining 6426 per hour Machine set up $ 171.36 per hour Determine the difference in allocation between the two approaches. Family Model Deluxe Model Traditional ABC $ $ Difference $ $ Save for Later Attempts: 0 of 3 used Submit