30. Computing Product Costs Using Activity-Based Costing. Ralston Company identified the following activities, estimated costs for each activity, and identified cost drivers for each activity for this coming year. (These are the first three steps of activity-based costing.) Activity Production setup Materials handling Quality control Total Cost Driver Number of production runs Yords of material purchased Number of inspections Estimated Annual Overhead Costs $ 60,000 140,000 80,000 $ 280,000 Estimated Annual Cost Driver Activity 100 production runs 10,000 yards purchased 800 inspections The company produces two products, MX1 and MX2. Information about these products for the month of July follows: MX1 MX2 $ 20 15 $ 30 45 Direct materials cost per unit Direct labor cost per unit Overhead cost per unit Product cost per unit Units produced S $1,000 units $ 700 units Actual cost driver activity levels for the month of July are as follows: MX1 MX2 3 Number of production runs Yards of material purchased Number of inspections 550 6 230 10 40 Required: a. For each product, calculate the overhead cost per unit for the month of July. Round results to the nearest cent. For each product, calculate the product cost per unit for the month of July. Round results to the nearest cent. b