E4-14 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: Number of machine hours Number of material moves Number of setups Standard Model Deluxe Model 31,500 925 575 26,500 625 85 Total estimated overhead costs are $382,020, of which $186,000 is assigned to the material handling cost pool and $196,020 is assigned to the setup cost pool Required: 1. Calculate the overhead assigned to each product using the traditional cost system. (Round the overhead rate to four decimal places.) Overhead assigned Standard Model Deluxe Model 2. Calculate the overhead assigned to each product using ABC Overhead Assigned Standard Model Deluxe Model