1.00 points Precision Manufacturing Inc. (PMI) makes two types of industrial component parts-the EX300 and the TX500? It annually produces 60,000 units of EX300 and 12500 unts of TS00 The company's conventional cost system allocates manufacturing overhead to products using a plantwide overhead rabe and direct labor dolars as the alocation base. Addtional information relating to the company's two product ines is shown below EX300 $366,325 $162.550 $528,875 $120,000 42.500 $162.500 Total Direct materials Direct labor The company is considering implementing an activity-based costing system thait distributes all of its manufacturing overhead to four activities as shown below Activity Cost Pool (and Activity Measure) Overhead EX300 TC500 Total 0,000 62.500 152 500 150.000 Setups (setup hours) Product-level (number of products) General factory (direct labor dolars) 60,125 $120,000 $42.500 $162 500 75 375 100 250 508.625 Total manufacturing overhead cost 1-a. Compute the plantwide overhead rate that would be used in the company's conventional cost system Round your answer to 2 decimal places.) DLS 1-b. Using the plantwide rate, compute the unit product cost for each product (Do not round intermediate calculations. Round your answers to 2 decimal places.) Unit product cost 2-a. Compute the activity rate for each activity cost pool. (Round your Machining and General factory activity rates to 2 decimal places. Setups per setup hr per product per DLS General factory