Prescott makes handheld calculators in two models-basic and professional. Prescott estimated $937,500 of manufacturing overhead and 625,000 machine hours for the year. The basic model actually consumed 240,000 machine hours, and the professional model consumed 385,000 machine hours. The predetermined overhead allocation rate using machine hours as the allocation base is $1.50 per machine hour, with the allocated overhead costs split between the basic model and the professional model by $360,000 and $577,500, respectively. (Click the icon to view the data using multiple department allocation rates.) (Click the icon to view additional data.) $ Manufacturing overheadAssembly Manufacturing overhead-Packaging Basic Model Professional Model 411,250 $ 338,750 47,500 140,000 GA Total manufacturing overhead cost 458,750 $ 478,750 1. Prescott expects to produce 200,000 basic models and 200,000 professional models. Compute the predetermined overhead allocation rates using activity-based costing. How much overhead is allocated to the basic model? To the professional model? 2. Compare the activity-based costing results from Requirement 1 with the company's results using a single plantwide rate and using multiple department rates. What conclusions can you draw