37\ 8 01:01:53\ Pecan Incorporated, produces water valves. Overhead costs have been identified as follows:\ Pecan makes three models of valves with the following activity demands:\ \\\\table[[,Economy,Standard,Premium],[Units produced,20,000,40,000,7,000],[Number of inspections,5,40,140],[Machine hours,4,500,12,000,2,500],[Production runs,5,20,35]]\ Required:\ a. Calculate the activity rate for each activity.\ b. Determine the amount of indirect costs assigned to each of the products.\ Complete this question by entering your answers in the tabs below.\ Required A\ Required B\ Calculate the activity rate for each activity.\ Note: Round your answers to 2 decimal places.\ Activity Rate\ Cost\ Quality Control\ Machine Maintenance