Remember: make a good solid effort on this practice quiz before comparing your work to the solution. Hayward Industries manufactures dining chairs and tables. The following information is available: Hayward is considering switching from one overhead rate based on labor hours to activity-based costing. Instructions Perform the following analyses for these two components of overhead: 1. Compute total machine setups and inspection costs assigned to each product, using a single overhead rate. 2. Compute total machine setups and inspection costs assigned to each product, using activity-based costing. 3. Comment on your findings