tequirement 1. Compute the total ovorhead alocated to each job under a simplo costing system, where overhead is allocated besed on machine-hours. Begin by calculating the owerhead rate under the simple costing system. First select the formula, then enter the applicable amounts and calculato the rate. (Round your answer lo the nearost cent Abbreviations used: bgt, = budgeted, mach. = machine, mat = material, purch. = purchase, qty. = quantify.) The job-costing tystem at Sharor's Custom Framing has five indrect-oost pools (purchasing. material handing. machine maintenance, product inspection, and packaging) The compaty is in the process of bidding on two jobs, Job 215 , an order of 15 intricate personalized frames, and Job 325 , an onder of six standard personalied trames. The controler wants you to comparo overhegd alocaled under the current simple jab-costing syglem and a newy designed activity based job-cossing system. Total budgeled costs in each indirect-cost pool and the budgeled quanty of each activity deivor are as follows Fiti (Click the leon to view the cost and driver datia). (1) (Ciek the icon to viow the job data) More info Informaton rolatod to Job 215 and yob 325 follown, sob 215 incurs moro batch-lever costs because it uses more types of maserials that need to be purchases, mored, and inspected relative to Job 325