1. Highland Co. is a job-order-costing company that uses activity-based costing to apply overhead to jobs. The following overhead activities were budgeted for the year. Driver number of setups number of parts direct labor hours Amount of driver 6,000 20,000 75,000 Activity Cost setups purchasing other overhead S120,000 $80,000 $150,000 The following information about the jobs was given for January. Job 1001 $44,900 $54,000 $80,000 Job 1002 Job 1003 Job 1004 lance 1/1 direct materials direct labor number of setups number of parts direct labor hours Units $60,700 $O S0 s37000 s25,000 $41.000 $43,000 $71,000 200 500 1.200 1,800 S38,500 40 300 5,000 2,000 10 180 2,400 1,500 30 400 5,200 800 By January 31, Jobs 1001 and 1004 were completed and only Job 1004 was sold. The remaining jobs were still in process. (1) Calculate three activity rates. (2) Calculate the overhead cost per unit for Job 1004. (3) Determine the cost per unit for Jobs 1001 and 1004. (4) Calculate the beginning balance and ending balance of work-in-process for January. (5) Determine the cost of goods manufactured. (6) Calculate the cost of goods sold. (7) Prepare all necessary journal entries pertaining Job 1001, Job 1002, Job 1003, and Job 1004