A manufacturer reports the following for its two products: Product 1 and Product 2. Product 1 requires 2 direct labor hours per unit and Product 2 requires 3 direct labor hours per unit. The company budgets 6,080 direct labor hours to be used, based on expected production of 2,320 units of Product 1 and 480 units of Product 2. Activity Setup Handling parts Inspection Total budgeted overhead Actual Activity Driver Usage Setups Parts Inspections Enter answers in the tabs below. Per Unit Budgeted Cost (Activity Driver) $ 157,520 (22 machine setups) 66,880 (16,000 parts) 97,500 (250 inspections) $ 321,900 Product 1 Product 2 Product 1 10 10,000 40 Required 1 Required 2 Use a plantwide overhead rate based on 6,080 direct labor hours to compute the overhead cost per unit for each product. Note: Do not round intermediate calculations. Round your final answers to 2 decimals. Overhead Cost per Unit S Product 2 6,000 210 3 Enter answers in the tabs below. Required 1 Required 2 Use activity-based costing to a) compute overhead activity rates, and b) allocate overhead cost to each product and compute overhead cost per unit for each product. Note: Do not round intermediate calculations. Round the final answers to 2 decimals. a. Compute overhead activity rates Activity Activity Rate 7,160.00 per setup Setup Handling parts 4.18 per part 390.00 per inspection Inspection b. Allocate overhead to each product and compute overhead cost per unit for each product Allocated Cost Activity Setup Handling parts Inspection Total allocated cost Units produced Overhead cost per unit $ $ $ $ $ Product 1 < Required 1 71,600 41,800 113,400 $ Product 2 Required 2 0