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E526 Calculate overhead rates, assign overhead using ABC, and discuss the advantages of ABC. (LO 2, 3) Fontillas Instrument, Inc. manufactures two products: missile range instruments and space pressure gauges. During April, it produced 50 range instruments and 300 pressure gauges and incurred estimated overhead costs of $94,500. An analysis of estimated overhead costs reveals the following activities: Activities Cost Drivers Total Cost 1. Material handling Number of requisitions $40,000 2. Machine set-ups Number of set-ups 21500 3. Quality inspections Number of inspections 27,000 $94'500 The cost driver volume for Cost Drivers Instruments Gang Total Number of requisitions 400 600 1,000 Number of set-ups 200 300 500 each product was as follows: Number Of inSPeCOnS 200 400 600 Instructions a. l 5 Determine the overhead rate for each activity. b. Assign the manufacturing overhead costs for April to the two products using activity-based costin . c. @ Write a memorandum to the president of Fontillas Instrument explaining the benets of activity- based costing