Current Attempt in Progress 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-b- 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 th operations. Standard Custom Direct labor costs $43,000 $102,000 Machine hours 1,310 1,270 Setup hours 110 380 Total estimated overhead costs are $303.000, Overhead cost allocated to the machining activity cost pool is $196,000, and $107,000 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.) % of direct labor cost Predetermined overhead rate eTextbook and Media Attempts: 0 of 5 used Save for Later Check