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Question 1 of 12 -/13 View Policies Current Attempt in Progress Saddle Inc. has two types of landbags: standard and custom. The controller has decided to use a plantwide overhead rate based on direct labor costs. The president has 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 Standard Custom Direct labor costs Machine hours Setup hours $50,000 1.200 $100,000 1,200 360 90 Total estimated overhead costs are $291,000. Overhead cost allocated to the machining activity cost pool is 192.000, and $99,000 is allocated to the machine setup activity cost pool. Compute the overhead rate using the traditional (plantwide) approach. (Round answer to 2 decimal places es. 12.25.) % of direct labor cost Predetermined overhead rate e Textbook and Media Question 1 of 12 Compute the overhead rates using the activity-based costing approach. Machining per machine hour Machine setup $ per setup hour e Textbook and Media Determine the difference in allocation between the two approaches. Traditional costing Standard $ Custom $ Activity-based costing Standard $ Custom $