E4-14 (Algo) Assigning Costs Using Traditional System, ABC System (LO 4-1, 4-3, 4-4, 4-5) Julio produces two types of calculator, standard and deluxe. The company is currently using a traditional costing system with machine hours as the cost driver but is considering a move to activity-based costing. In preparing for the possible switch, Julio has identified two cost pools materials handling and setup. The collected data follow: Standard Model Deluxe Model Number of machine hours 25,200 30,200 Number of material moves Number of setups 510 860 560 BO Total estimated overhead costs are $337,960, of which $170,400 is assigned to the material handling cost pool and $167,560 is assigned to the setup cost pool. Required: 1. Calculate the overhead assigned to each product using the traditional cost system, 2. Calculate the overhead assigned to each product using ABC. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate the overhead assigned to each product using the traditional cost system. (Round the overhead rate to four decimal places and round your final answer to the nearest whole dollar amount.) Overhead Assigned Standard Model Deluxe Model Required Required 2 > E4-14 (Algo) Assigning Costs Using Traditional System, ABC System (LO 4-1, 4-3,4-4, 4-5) Julio produces two types of calculator, standard and deluxe. The company is currently using a traditional costing system with machine hours as the cost driver but is considering a move to activity based costing. In preparing for the possible switch, Julio has identified two cost pools: materials handling and setup. The collected data follow. Standard Model Deluxe Model Number of machine hours 25,200 30,200 Number of material moves 860 Number of setups 510 560 80 Total estimated overhead costs are $337,960, of which $170,400 assigned to the material handling cost pool and $167,560 is assigned to the setup cost pool. Required: 1. Calculate the overhead assigned to each product using the traditional cost system. 2. Calculate the overhead assigned to each product using ABC. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate the overhead assigned to each product using ABC Overhead Assigned Standard Model Deluxe Model