3 Exercise 7-13 (Algo) Computing ABC Product Costs [LO7-3, L07-4) Fogerty Company makes two products-titanium Hubs and Sprockets. Data regarding the two products follow: 10 points eBook Direct Labor- Hours per Annual Unit Production 0.70 18,000 units 0.30 47,000 units References Hubs Sprockets Additional information about the company follows: a. Hubs require $26 in direct materials per unit, and Sprockets require $12. b. The direct labor wage rate is $19 per hour. c. Hubs require special equipment and are more complex to manufacture than Sprockets. d. The ABC system has the following activity cost pools: Activity Activity Cost Pool (Activity Measure) Machine setups (number of setups ) Special processing (machine-hours) General factory (organization-sustaining) Estimated Overhead Cost $ 28,980 $144,000 $252,300 Hubs Sprockets Total 140 112 252 3,600 0 3,600 NA NA NA Required: Grow HII GO MacBook Air 3 252 Activity Cost Pool (Activity Measure) Machine setups (number of setups) Special processing (machine-hours) General factory (organization-sustaining) Cost $ 28,980 $144,000 $252,300 Hubs Sprockets Total 140 112 3,600 0 3,600 NA NA NA 10 points Required: 1. Compute the activity rate for each activity cost pool. 2. Determine the unit product cost of each product according to the ABC system. eBook References Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the activity rate for each activity cost pool. Activity Cost Pool Machine setups Activity Rate per setup per MH Special processing Mc Graw Hill Education Next 9 ning) $252,300 NA NA NA Required: 1. Compute the activity rate for each activity cost pool. 2. Determine the unit product cost of each product according to the ABC system. Book erences Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the unit product cost of each product according to the ABC system. (Do not round intermediate calculations. your answers to 2 decimal places.) Hubs Sprockets Direct materials Direct labor Overhead Unit cost $ 0.00 $ 0.0