Use this information for Questions 1 through 3. A manufacturer of insulated coffee mugs is considering changing from traditional overhead allocation to activity-based costing. They provide the following information. 32oz 16oz 400 24oz 600 650 Cost Fabrication - machine hours Quality Control - number of tests Packaging number of pallets 300 200 400 Total Costs $ 150,000 $ 50,000 $ 10,000 $ 210.000 10 18 25 Direct Labor Hours 2,000 2,200 2,500 0/2 pts Incorrect Question 1 The total overhead assigned using traditional methods to 16oz units is: $ 62,687 $ 57,280 $ 57,280. You selected this answer $70,000 $ 50,909 0/2 pts Incorrect Question 2 Using activity based costing the total overhead applied to the 24 oz modelis: 0/2 pts Incorrect Question 2 Using activity-based costing, the total overhead applied to the 24 oz modelis: $ 69,053 $65.993 $70,000 $ 68,955 1/1 pts Question 3 Using your calculations for questions 1 and 2 for reference, should the company adopt activity-based costing? Yes. More costs are allocated to the 16oz units. No. Less costs are allocated to the 32oz units. No. Total allocated costs is less representative across products Yes. Total allocated costs are more representative across products, 1/1 pts Question 4 072.5 Question 4 Forsythe Manufacturing had the following balances last month. Starting inventories Raw materials $ 26,000 Work in progress 46,000 Finshed goods 32,000 Ending inventories Raw materials 24,000 Work in progress 42,000 Finished goods 28,000 290,000 Goods completed out of work in progress The correct value of cost of goods sold is: u Answered $286,000 $300,000 orrect Answer $294,000 $280,000