2. Mike Company produces mathematical and financial calculators and operates at capacity You have available the following information for the year ended 31 December 2019: (22marks) mathematical rinancial OH cost Direct materials per unit 52.00 $2.50 Direct labour per unit $3.00 S180 Setup cost $9.600 Inspection cost 524,000 Other information follows: Allocation Base mathematical financial Total Machine Hours 100 220 320 Number of batches 120 40 140 Setup costs vary with the machine hours processed Inspection cost vary with the number of batches. Total units produced during the year: 5,000 mathematical and 7.000 financial (1) Calculate the overhead rate, the overhead cost and total cost per unit of mathematical and financial based on a single plantwide overhead rate, if total overhead is allocated based on direct labour costs (2+2+4marks marks) (2) Calculate the overhead rate, the Of cost, and total cost per unit of mathematical and financial if the company allocates overhead costs using activity-based costing (44 +marks 1 marks)