I got both answers wrong. I found the activity rate by dividing $26,240 by each of the totals. For labor hrs I got 24.2963 and for machine hrs I got 3.7326.Then I took each of the activity rates and multiplied by each labor/machine hrs for each product. Added that up to get each total but I got it wrong. Please help. Schell Company manufactures automobile floor mats. It currently has two product lines, the Standard and the Deluxe.Schell has a total of $26,240 in overhead. It currently uses a traditional cost system with overhead applied to the product on the basisof either labor hours or machine hours. Schell has compiled the following information about possible cost drivers and its two productlines:Quantity/AmountConsumed byStandard Floor Mat LineQuantity/AmountConsumed byDeluxe Floor Mat LineSchell Company Total1,080 labor hours7,030 machine hours630 labor hours450 labor hours2,970 machine hours4,060 machine hoursRequired:1. Suppose Schell uses a traditional costing system with direct labor hours as the cost driver. Determine the amount of overheadassigned to each product line.2. Suppose Schell uses a traditional costing system with machine hours as the cost driver. Determine the amount of overheadassigned to each product line. Required 1Required 2Suppose Schell uses a traditional costing system with direct labor hours as the cost driver. Determine the amount of overheadassigned to each product line. (Round activity rates to 4 decimal places and final answers to 2 decimal places.)Overhead AssignedStandard Floor Mat$26,392.49Deluxe Floor Mat$26,087.69

Name: I got both answers wrong. I found the activity rate by dividing $26,24
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: I got both answers wrong. I found the activity rate by dividing $26,240 by each of the totals. For labor hrs I got 24.2963 and for machine hrs I got 3.7326.Then I took each of the activity rates and multiplied by each labor/machine hrs for each produ