The Foundational 15 (Static) (L07-1, L07-3, LO7-4) [The following information applies to the questions displayed below.) Hickory Company manufactures two products-14,000 units of Product Y and 6,000 units of Product Z. The company uses a plantwide overhead rate based on direct labor-hours. It is considering implementing an activity-based costing (ABC) system that allocates all $684,000 of its manufacturing overhead to four cost pools. The following additional information is available for the company as a whole and for Products Y and Z: Activity Cost Pool Machining Machine setups Product design General factory Activity Measure Machine-hours Number of setups Number of products Direct labor-hours Estimated Overhead Coat $ 200,000 $ 100,000 $ 84,000 $ 300,000 Expected Activity 10,000 MB 200 setups 2 products 12,000 DLHS Activity Measure Machine-hours Number of setups Number of products Direct labor-hours Product Y 7.000 50 1 8,000 Product z 3,000 150 1 4,000 Foundational 7-2 (Static) 2. Using the plantwide overhead rate, how much manufacturing overhead cost is allocated to Product Y and Product Z? Product Product z Manufacturing overhead allocated Foundational 7-3 (Static) 3. What is the activity rate for the Machining activity cost pool? Activity rate per MH Foundational 7-4 (Static) 4. What is the activity rate for the Machine Setups activity cost pool? Activity rate per setup Foundational 7-5 (Static) 5. What is the activity rate for the Product Design activity cost pool? Activity rate per product