Exercise 17-1 (Part Level Submission) Sadle 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 presid heard of activity-based costing 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 the company's operations. Standard Custom Direct labor costs Machine hours Setup hours $42,000 $101,000 1,270 400 1,200 96 Total estimated overhead costs are $300,000. Overhead cost allocated to the machini activity cost pool. ng activity cost pool is $200,000, and $100,000 is allocated to the machine setup Compute the overhead rate using the traditional (plantwide) approach. (Round answer to 2 decimal places, e.g. 12.25.) Predetermined overhead rate Click if you would like to Show Work for this question: Qpen Show Work % of direct labor cost