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Concord has budgeted overhead costs of $1,105,650. It has allocated overhead on a plantwide basis...

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Accounting

Concord has budgeted overhead costs of $1,105,650. It has allocated overhead on a plantwide basis to its two products (wool and
cotton) using direct labor hours which are estimated to be 526,500 for the current year. The company has decided to experiment with
activity-based costing and has created two activity cost pools and related activity cost drivers. These two cost pools are cutting (cost
driver is machine hours) and design (cost driver is number of setups). Overhead allocated to the cutting cost pool is $421,200 and
$684,450 is allocated to the design cost pool. Additional information related to these pools is as follows.
(a1)
Calculate the overhead rate using activity based costing. (Round answers to 2 decimal places, e.g.12.25.)
Overhead rates for activity-based costing
Cutting $ per machine hour
Design $ per setup
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