Use the following information to answer the following three questions Canon Corporation has a significant level of manufacturing overhead and adopted the ABC system. The management expects the total estimated annual manufacturing overhead to be $150,000. The detailed breakdown of manufacturing overhead costs along with the cost driver for each overhead cost pool is shown below Total Activity Estimated Cost Driver Total budgeted Cost cost driver Machine 20,000 Machine Maintenance $80,000 hours hours Machine 40,000 # of setups 500 setups setups #of Inspection 30,000 1,000 inspections inspections manis nonsiderio accepting a significant production contract Details for the contract are as follows: The company is considering accepting a significant production contract Details for the contract are as follows: Direct materials $30,000 Direct labor (1.000 hours) $15,000 Number of machine hours: 1,000 Number of setups10 Number of inspections: 5 3E Question 17 What amount of overhead would be allocated to the contract if a plantwide predetermined overhead rate based on machine hours were used? O $4.000 $5,500 $7,500 $150 3 pts Question 18 hat is the cost allocation rate (predetermined overhead rate) for the inspection activity pool? Question 18 3 pts What is the cost allocation rate (predetermined overhead rate) for the inspection activity pool? $30/inspection $30/machine hour O $100/inspection O $80/setup Question 19 the contract based on Activity-Based Costing? How much overhead should be allocated to the contract based on Activity-Based Costing? O $3,000 $4,150 O $4,950 O $5,000 Question 20 Scoaline Canonies (CC) is a manufacturer of flexible canopies for athletic facilities. Co has contracts with 3 universities