Y Kimmel, Accounting, 7e Help | System Announcements Return to Blackboard CALCULATOR PRINTER VERSION BACK NO Exercise 17-01 (Part Level Submission) Saddle Inc. has two types of handbags: 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. Direct labor costs Machine hours Setup hours Standard $50,000 Custom $100,000 1.200 90 1,200 390 Total estimated overhead costs are $292,800. Overhead cost allocated to the machining activity cost pool is $192,000, and $100,000 is allocated to the machine setup activity cost pool. (a) Compute the overhead rate using the traditional (plantwide) approach. (Round answer to 2 decimal places, e.g. 12.25.) Predetermined overhead rate % of direct labor cost Click if you would like to Show Work for this question: Open Show Work LINK TO YO LINK TO VED Attempts: 0 of 6 used SAVE FOR LATER SUBNET ANYW ETIAM