You have a business manufacturing Artfarts for Dogtown, Inc.. Following is the costing data you have been using: Direct materials Direct labor Overhead $5.00 per pound $20.00 per DLH $30.00 per DLH There are two versions of the Artfarts you manufacture, Simple and Fancy, and you incurred the following: DM DLH Simple 4,000 pounds 6,000 Fancy 1,800 pounds 2,400 Number of batches 4 16 Number of machine hours (MH) 4,000 3,600 You want to implement an Activity Based Costing system to better allocate overhead to the two different products and have come up with the following cost activity pools: Activity Pool Fabrication Machine set-up General overhead Total overhead costs Costs $101,400 Driver MH 75,000 Batches 75,600 DLH $252,000 During 2021 you made 2,000 Simple and 600 Elaborate Artfarts, incurred $168,000 of direct labor, spent $29,000 on direct materials, and spent $252,000 on overhead. What is the average cost of a Simple and Fancy Artfart using the old overhead allocation method of $30 per DLH to allocate the $252,000 of overhead? . What is the average cost of a Simple and Fancy Artfart using the ABC costing data from above to allocate the $252,000 of overhead? ROUND TO THE NEAREST PENNY FOR ALLOCATION RATES. Why is the ABC method better at costing the Artfarts than the old method? Be specific in your answer.