using EcoFabrics has budgeted overhead costs of $1,181,250, It has allocated overhead on a plantwide basis to its two products (wool and cotton) using direct labor hours which are estimated to be 562,500 for the current year. The company has decided to experiment with activity-based costing and has created two activity cost pools and related activity cost drivers. These two cost pools are cuttino (cost driver is machine hours) and design (cost driver is number of setups). Overhead allocated to the cutting cost pool is $450,000 and $731,250 is allocated to the design cost pool. Additional information related to these pools is as follows. the design cost podl. Adni e eutin fcest l i3450 o c Wool Cotton Total Machine hours 125,000 125,000 250,000 Number of setups1,2506251875 Calculate the overhead rata using activity based casting. (Round answers to 2 decimal places, e.g. 12.25.) Overhead rates for activity-based costing Cutting Design per machine hour machine per setup Determine the amount of overhead allocated to the wool product line and the cotton product line using activity-based costing Wool product lineCotton product line Overhead Allocated LINK TO TEXT LINK TO TEXT Calculate the overhead rate using traditional approach. (Round answer to 2 decimal places, e.g. 12.25.) Overhead rates using the traditional approach per direct labor hour LINK TO TEXTLINK TO TEXT What amount of overhead would be allocated to the wool and cotton product lines using the traditional approach, assuming direct labor hours were incurred evenly between the wool and cotton? Wool product line Cotton product line Overhead Allocated