Which one of the following refers to the maximum cost that is allowable in the production, distribution, and disposal of the product? a. Variable cost b. Life cycle cost c. Target cost d. Fixed cost Al-Ameen LLC is producing Laptops, Televisions and I-Pads in their unit. Laptop Television I-Pad Particulars Direct labor hours 20,000 25,000 35,000 Number of orders placed 100 250 100 Machine setup hours 1500 3000 500 During the year 2020, the total overhead expenses are: Procurement cost-OMR 500,000 Machine setup cost-OMR 250,000 Based on the above information answer the following questions Which one of the following Is the overhead absorption rate under traditional approach of costing? Which one of the following is the rate of machine setup cost under activity based costing? Which one of the following is the rate of procurement cost under activity based costing? Which one of the following is the total overhead of 1-Pads under activity based costing