The controller for Florida Olive Oil Co. established the following overhead cost pools and cost drivers:...

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The controller for Florida Olive Oil Co. established the following overhead cost pools and cost drivers: Overhead Cost Pool Machine setups Material handling Quality control Other overhead cost Estimated Cost Driver Level 500 setups 9,000 barrels Budgeted Overhead Cost Driver $600,000 # of setups 240,000 # of barrels 300,000 # of inspections 150,000 $1,290,000 # of machine hrs 5,000 machine hrs Total overhead cost An order of 50 barrels of olive oil used: 1,000 inspections # of setups # of barrels # of inspections 5 50 5 60 # of machine hours Required: ) What is the overhead rate per machine hour if the number of machine hours is used as a single cost driver under traditional costing system? (Round your intermediate calculation to the nearest cent and final answer to the nearest whole dollar.) 2) Using the traditional costing system, how much overhead is assigned to the order based on machine hours as a single cost driver? 3) Using ABC costing, how much total overhead is assigned to the order? The controller for Florida Olive Oil Co. established the following overhead cost pools and cost drivers: Overhead Cost Pool Machine setups Material handling Quality control Other overhead cost Estimated Cost Driver Level 500 setups 9,000 barrels Budgeted Overhead Cost Driver $600,000 # of setups 240,000 # of barrels 300,000 # of inspections 150,000 $1,290,000 # of machine hrs 5,000 machine hrs Total overhead cost An order of 50 barrels of olive oil used: 1,000 inspections # of setups # of barrels # of inspections 5 50 5 60 # of machine hours Required: ) What is the overhead rate per machine hour if the number of machine hours is used as a single cost driver under traditional costing system? (Round your intermediate calculation to the nearest cent and final answer to the nearest whole dollar.) 2) Using the traditional costing system, how much overhead is assigned to the order based on machine hours as a single cost driver? 3) Using ABC costing, how much total overhead is assigned to the order?